Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'ZEN | ' |
Entity Registrant Name | 'Zendesk, Inc. | ' |
Entity Central Index Key | '0001463172 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 72,834,725 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $80,436 | $53,725 |
Marketable securities | 29,858 | 9,889 |
Accounts receivable, net of allowance for doubtful accounts of $355 and $282 as of September 30, 2014 and December 31, 2013, respectively | 12,858 | 7,237 |
Prepaid expenses and other current assets | 5,255 | 3,008 |
Total current assets | 128,407 | 73,859 |
Marketable securities, noncurrent | 18,007 | 2,225 |
Property and equipment, net | 40,864 | 15,431 |
Goodwill and intangible assets, net | 15,158 | ' |
Other assets | 1,545 | 1,221 |
Total assets | 203,981 | 92,736 |
Current liabilities: | ' | ' |
Accounts payable | 5,501 | 3,988 |
Accrued liabilities | 10,224 | 4,737 |
Accrued compensation and related benefits | 9,661 | 4,226 |
Deferred revenue | 45,412 | 28,473 |
Current portion of credit facility | 3,022 | 365 |
Current portion of capital leases | 103 | 364 |
Total current liabilities | 73,923 | 42,153 |
Deferred revenue, noncurrent | 1,219 | 575 |
Credit facility, noncurrent | 4,678 | 23,395 |
Other liabilities | 9,539 | 1,520 |
Total liabilities | 89,359 | 67,643 |
Commitments and contingencies (Note 7) | ' | ' |
Redeemable convertible preferred stock, par value $0.01 per share, issuable in series: no shares and 24.0 million shares authorized; no shares and 23.6 million shares issued and outstanding as of September 30, 2014 and December 31, 2013, respectively | ' | 71,369 |
Stockholders’ equity (deficit): | ' | ' |
Preferred stock, par value $0.01 per share: 5.0 million and no shares authorized as of September 30, 2014 and December 31, 2013, respectively; no shares issued and outstanding as of September 30, 2014 and December 31, 2013 | ' | ' |
Common stock, par value $0.01 per share: 400.0 million and 125.0 million shares authorized; 73.3 million and 23.7 million shares issued; 72.8 million and 23.2 million shares outstanding as of September 30, 2014 and December 31, 2013, respectively (including 0.7 million and 0.8 million shares subject to repurchase, legally issued and outstanding, as of September 30, 2014 and December 31, 2013, respectively) | 721 | 229 |
Additional paid-in capital | 228,968 | 18,591 |
Accumulated other comprehensive income | -39 | 10 |
Accumulated deficit | -114,376 | -64,454 |
Treasury stock at cost (0.5 million shares as of September 30, 2014 and December 31, 2013) | -652 | -652 |
Total stockholders’ equity (deficit) | 114,622 | -46,276 |
Total liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit) | $203,981 | $92,736 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Allowance for doubtful accounts | $355 | $282 |
Redeemable convertible preferred stock, par value | $0.01 | $0.01 |
Redeemable convertible preferred stock, shares authorized | 0 | 24,000,000 |
Redeemable convertible preferred stock, shares issued | 0 | 23,600,000 |
Redeemable convertible preferred stock, shares outstanding | 0 | 23,600,000 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 0 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 400,000,000 | 125,000,000 |
Common stock, shares issued | 73,300,000 | 23,700,000 |
Common stock, shares outstanding | 72,800,000 | 23,200,000 |
Common stock shares outstanding, subject to repurchase | 700,000 | 800,000 |
Treasury stock, shares | 500,000 | 500,000 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Income Statement [Abstract] | ' | ' | ' | ' | ||||
Revenue | $33,910 | $19,237 | $88,508 | $49,544 | ||||
Cost of revenue | 11,684 | [1] | 6,327 | [1] | 32,410 | [1] | 16,878 | [1] |
Gross profit | 22,226 | 12,910 | 56,098 | 32,666 | ||||
Operating expenses: | ' | ' | ' | ' | ||||
Research and development | 9,550 | [1] | 3,860 | [1] | 25,227 | [1] | 10,737 | [1] |
Sales and marketing | 21,548 | [1] | 10,015 | [1] | 56,174 | [1] | 26,218 | [1] |
General and administrative | 8,940 | [1] | 3,646 | [1] | 23,639 | [1] | 11,744 | [1] |
Total operating expenses | 40,038 | [1] | 17,521 | [1] | 105,040 | [1] | 48,699 | [1] |
Operating loss | -17,812 | -4,611 | -48,942 | -16,033 | ||||
Other expense, net | -343 | -102 | -1,252 | -312 | ||||
Loss before provision for income taxes | -18,155 | -4,713 | -50,194 | -16,345 | ||||
Provision for (benefit from) income taxes | -236 | 42 | -272 | 120 | ||||
Net loss | -17,919 | -4,755 | -49,922 | -16,465 | ||||
Accretion of redeemable convertible preferred stock | ' | -12 | -18 | -36 | ||||
Net loss attributable to common stockholders | ($17,919) | ($4,767) | ($49,940) | ($16,501) | ||||
Net loss per share attributable to common stockholders, basic and diluted | ($0.25) | ($0.22) | ($1.08) | ($0.77) | ||||
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted | 71,732 | 22,024 | 46,110 | 21,486 | ||||
[1] | (1) Includes share-based compensation expense as follows: Â Three Months Ended September 30, Nine Months Ended September 30, 2014 2013 2014 2013 Cost of revenue$591 $77 $1,691 $177 Research and development 3,052 196 7,530 422 Sales and marketing 4,877 338 8,635 726 General and administrative 2,298 264 5,769 2,419 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Cost of Revenue | ' | ' | ' | ' |
Share-based compensation expense | $591 | $77 | $1,691 | $177 |
Research and Development | ' | ' | ' | ' |
Share-based compensation expense | 3,052 | 196 | 7,530 | 422 |
Sales and Marketing | ' | ' | ' | ' |
Share-based compensation expense | 4,877 | 338 | 8,635 | 726 |
General and Administrative | ' | ' | ' | ' |
Share-based compensation expense | $2,298 | $264 | $5,769 | $2,419 |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net loss | ($17,919) | ($4,755) | ($49,922) | ($16,465) |
Other comprehensive loss, net of tax: | ' | ' | ' | ' |
Net change in unrealized gain (loss) on available-for-sale investments | -58 | 21 | -66 | ' |
Foreign currency translation gain (loss) | -303 | ' | 17 | ' |
Comprehensive loss | ($18,280) | ($4,734) | ($49,971) | ($16,465) |
CONDENSED_CONSOLIDATED_STATEME3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Cash flows from operating activities | ' | ' |
Net loss | ($49,922,000) | ($16,465,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation and amortization | 7,673,000 | 3,591,000 |
Share-based compensation | 23,625,000 | 3,744,000 |
Other | 331,000 | 144,000 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -5,104,000 | -3,122,000 |
Prepaid expenses and other current assets | -1,960,000 | -1,504,000 |
Other assets and liabilities | 1,321,000 | 268,000 |
Accounts payable | 591,000 | 955,000 |
Accrued liabilities | 922,000 | 963,000 |
Accrued compensation and related benefits | 5,215,000 | 1,812,000 |
Deferred revenue | 17,290,000 | 10,537,000 |
Net cash provided (used) in operating activities | -18,000 | 923,000 |
Cash flows from investing activities | ' | ' |
Purchases of property and equipment | -19,121,000 | -5,650,000 |
Internal-use software development costs | -6,268,000 | -3,556,000 |
Purchases of marketable securities | -43,006,000 | -12,409,000 |
Proceeds from maturities of marketable securities | 6,950,000 | ' |
Cash paid for the acquisition of Zopim, net of cash acquired | -1,896,000 | ' |
Net cash used in investing activities | -63,341,000 | -21,615,000 |
Cash flows from financing activities | ' | ' |
Proceeds from initial public offering, net of issuance costs | 103,110,000 | ' |
Proceeds from exercise of employee stock options | 5,091,000 | 628,000 |
Proceeds from issuance of debt | 3,940,000 | 1,000,000 |
Principal payments on debt | -20,000,000 | ' |
Taxes paid related to net share settlement of equity awards | -1,750,000 | ' |
Principal payments on capital lease obligations | -271,000 | -251,000 |
Net cash provided by financing activities | 90,120,000 | 1,377,000 |
Effect of exchange rate changes on cash and cash equivalents | -50,000 | -7,000 |
Net increase (decrease) in cash and cash equivalents | 26,711,000 | -19,322,000 |
Cash and cash equivalents at the beginning of period | 53,725,000 | 48,688,000 |
Cash and cash equivalents at the end of period | 80,436,000 | 29,366,000 |
Supplemental cash flow data: | ' | ' |
Cash paid for interest and income taxes | 930,000 | 142,000 |
Non-cash investing and financing activities: | ' | ' |
Issuance of common stock for the acquisition of Zopim | 10,893,000 | ' |
Purchases of property and equipment in accounts payable and accrued expenses | 998,000 | 13,000 |
Property and equipment acquired through tenant improvement allowances | 3,932,000 | ' |
Share-based compensation capitalized in internal-use software development costs | 1,856,000 | 118,000 |
Vesting of early exercised stock options | $1,196,000 | $680,000 |
Overview_and_Basis_of_Presenta
Overview and Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' |
Overview and Basis of Presentation | ' |
Note 1. Overview and Basis of Presentation | |
Company and Background | |
Zendesk was founded in Denmark in 2007 and reincorporated in Delaware in April 2009. | |
Our mission is to help organizations build successful long-term relationships with their customers. We are a software development company that provides a software-as-a-service, or SaaS, customer service platform that enables our customers to provide tailored support through multiple channels, establish effective self-service support resources, proactively serve customers through customer engagement capabilities, integrate with other applications and consolidate and analyze data from customer interactions in powerful ways. We also provide SaaS live chat software that can be utilized independently to facilitate proactive communications between organizations and their customers or integrated seamlessly into our customer service platform. | |
References to Zendesk, “Company”, “our”, or “we” in these notes refer to Zendesk, Inc. and its subsidiaries on a consolidated basis. | |
Basis of Presentation | |
These unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles, or GAAP, and applicable rules and regulations of the Securities and Exchange Commission, or SEC, regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our final prospectus filed with the SEC on May 16, 2014 pursuant to Rule 424(b) of the Securities Act of 1933, as amended. There have been no changes to our significant accounting policies described in the prospectus that have had a material impact on our condensed consolidated financial statements and related notes. | |
The consolidated balance sheet as of December 31, 2013 included herein was derived from the audited financial statements as of that date. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, our comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2014. | |
Initial Public Offering and Share-based Compensation | |
In May 2014, we completed our initial public offering, or IPO, in which we issued and sold 12.8 million shares of common stock at a public offering price of $9.00 per share. We received net proceeds of $103.1 million after deducting underwriting discounts and commissions of $8.1 million and other offering expenses of $3.8 million. Upon the closing of the IPO, all shares of our then-outstanding redeemable convertible preferred stock automatically converted into an aggregate of 34.3 million shares of common stock. | |
All restricted stock units, or RSUs, and certain options granted to employees prior to the IPO vest upon the satisfaction of both a service condition and a performance condition. These RSUs and stock options with both a service condition and performance condition are collectively referred to as “Performance Awards” in the following discussion. The service condition for substantially all of the Performance Awards is satisfied over three or four years. The performance condition was satisfied upon the effectiveness of the registration statement related to our IPO. No share-based compensation expense had been recognized for the Performance Awards prior to the IPO. Upon the satisfaction of the performance condition, we recognized a cumulative share-based compensation expense for the portion of the Performance Awards that had met the service condition. For the three and nine months ended September 30, 2014, share-based compensation expense related to the Performance Awards recognized was $2.9 million and $9.0 million, respectively, using the accelerated attribution method. The remaining unrecognized share-based compensation expense related to the Performance Awards will be recorded over the remaining requisite service period using the accelerated attribution method, net of estimated forfeitures. | |
As of September 30, 2014, we had a total of $74.5 million future period share-based compensation expense related to all equity awards, net of estimated forfeitures, to be recognized over a weighted average period of 3.6 years. | |
Use of Estimates | |
The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reported periods. Significant items subject to such estimates and assumptions include the fair value of share-based awards, fair value of acquired intangible assets, goodwill, unrecognized tax benefits, useful lives of intangible assets and property and equipment, and the capitalization and estimated useful life of our capitalized internal-use software. | |
These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from those estimates. | |
Concentrations of Risk | |
At September 30, 2014, there was one customer represented 17% of our total accounts receivable balance. At December 31, 2013, there were no customers that represented more than 10% of our accounts receivable balance. There were no customers that individually exceeded 10% of our revenue during the three and nine months ended September 30, 2014. | |
Recently Issued and Adopted Accounting Pronouncements | |
On May 28, 2014, the FASB issued ASU 2014-09 regarding ASC Topic 606 “Revenue from Contracts with Customers.” This ASU provides principles for recognizing revenue to which an entity expects to be entitled for the transfer of promised goods or services to customers. This ASU will be effective for our fiscal year beginning January 1, 2017. Early adoption is not permitted. We are currently evaluating the accounting, transition and disclosure requirements of the standard and cannot currently estimate the financial statement impact of adoption. | |
Acquisition
Acquisition | 9 Months Ended |
Sep. 30, 2014 | |
Business Combinations [Abstract] | ' |
Acquisition | ' |
Note 2. Acquisition | |
On March 21, 2014, we completed the acquisition of Zopim Technologies Pte Ltd., or Zopim, a software development company that provides a SaaS live chat service. The fair value of assets acquired and liabilities assumed was based on a preliminary valuation and our estimates and assumptions are subject to change within the measurement period. The primary areas of those preliminary estimates that are not yet finalized relate to accrued liabilities and income and non-income based tax liabilities. During the nine months ended September 30, 2014, we made adjustments of $0.2 million to the preliminary purchase price allocation related to final working capital acquired. No adjustments were made to the preliminary purchase price during the three months ended September 30, 2014. The total adjusted acquisition date fair value of consideration transferred was $15.8 million ($4.9 million of cash and $10.9 million of our common stock), which included $1.1 million of cash and $2.4 million of common stock consideration held back between 12 and 18 months as partial security for standard indemnification obligations. Of the total purchase price, $9.6 million was allocated to goodwill, $6.6 million to identifiable intangible assets, and $0.4 million to net liabilities assumed. Goodwill generated from the acquisition is attributable to expected synergies from future growth and potential future monetization opportunities, and is not deductible for tax purpose. Pro forma revenue and results of operations have not been presented because the historical results of Zopim were not material to our consolidated financial statements in any period presented. | |
In connection with the acquisition, we also established a retention plan pursuant to which we issued RSUs for 0.9 million shares of our common stock, which vest in three annual installments from the date of acquisition, and agreed to pay cash in an aggregate amount of $3.0 million in two annual installments from the date of acquisition to Zopim employees in connection with their continued employment, which is recorded as compensation expense over the associated service periods of such employees. | |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||
Fair Value Measurements | ' | |||||||||||
Note 3. Fair Value Measurements | ||||||||||||
The following tables present information about our financial assets measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013 based on the three-tier fair value hierarchy (in thousands): | ||||||||||||
Fair Value Measurement at | ||||||||||||
30-Sep-14 | ||||||||||||
Level 1 | Level 2 | Total | ||||||||||
Description | ||||||||||||
Corporate securities | $ | — | 41,140 | $ | 41,140 | |||||||
Money market funds | 24,820 | — | 24,820 | |||||||||
U.S. treasury securities | — | 2,998 | 2,998 | |||||||||
Asset-backed securities | — | 2,026 | 2,026 | |||||||||
U.S. agency obligations | — | 1,002 | 1,002 | |||||||||
Commercial paper | — | 699 | 699 | |||||||||
Total | $ | 24,820 | $ | 47,865 | $ | 72,685 | ||||||
Included in cash and cash equivalents | $ | 24,820 | ||||||||||
Included in marketable securities | $ | 47,865 | ||||||||||
Fair Value Measurement at | ||||||||||||
31-Dec-13 | ||||||||||||
Level 1 | Level 2 | Total | ||||||||||
Description | ||||||||||||
Corporate securities | $ | — | $ | 12,114 | $ | 12,114 | ||||||
Money market funds | 10,836 | — | 10,836 | |||||||||
Total | $ | 10,836 | $ | 12,114 | $ | 22,950 | ||||||
Included in cash and cash equivalents | $ | 10,836 | ||||||||||
Included in marketable securities | $ | 12,114 | ||||||||||
Gross unrealized gains or losses for cash equivalents and available-for-sale marketable securities as of September 30, 2014 and December 31, 2013 were not material. As of September 30, 2014 and December 31, 2013, there were no securities that were in an unrealized loss position for more than 12 months. | ||||||||||||
The following table classifies our available-for-sale marketable securities by contractual maturities as of September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||
September 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Due in one year | $ | 29,858 | $ | 9,889 | ||||||||
Due in one to five years | 18,007 | 2,225 | ||||||||||
Total | $ | 47,865 | $ | 12,114 | ||||||||
For certain other financial instruments, including accounts receivable, accounts payable and other current liabilities, the carrying amounts approximate their fair value due to the relatively short maturity of these balances. Based on borrowing rates available to us for loans with similar terms and maturities, the carrying value of borrowings approximates fair value or Level 2 within the fair value hierarchy. | ||||||||||||
There were no transfers between fair value measurement levels during the three and nine months ended September 30, 2014. | ||||||||||||
Property_and_Equipment
Property and Equipment | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property Plant And Equipment [Abstract] | ' | |||||||
Property and Equipment | ' | |||||||
Note 4. Property and Equipment | ||||||||
Property and equipment, net consists of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Capitalized internal-use software | $ | 14,453 | $ | 11,104 | ||||
Furniture and fixtures | 4,440 | 1,383 | ||||||
Hosting equipment | 12,423 | 7,931 | ||||||
Computer equipment and software | 3,898 | 1,680 | ||||||
Leasehold improvements | 14,871 | 1,717 | ||||||
Construction in progress | 6,198 | 341 | ||||||
Total | 56,283 | 24,156 | ||||||
Less accumulated depreciation and amortization | (15,419 | ) | (8,725 | ) | ||||
Property and equipment, net | $ | 40,864 | $ | 15,431 | ||||
Depreciation expense was $1.7 million and $0.8 million for the three months ended September 30, 2014 and 2013, respectively, and $4.0 million and $1.9 million for the nine months ended September 30, 2014 and 2013, respectively. | ||||||||
We capitalized $3.1 million and $1.3 million in internal-use software during the three months ended September 30, 2014 and 2013, respectively, and $8.1 million and $3.7 million during the nine months ended September 30, 2014 and 2013, respectively. Included in the capitalized development costs are $0.8 million and $33,000 in share-based compensation costs for the three months ended September 30, 2014 and 2013, respectively, and $1.9 and $0.1 million for the nine months ended September 30, 2014 and 2013, respectively. Amortization expense of capitalized internal-use software totaled $0.9 million and $0.6 million for the three months ended September 30, 2014 and 2013, respectively, and $2.6 million and $1.6 million for the nine months ended September 30, 2014 and 2013, respectively. The net carrying value of capitalized internal-use software at September 30, 2014 and December 31, 2013 was $12.3 million and $6.8 million, respectively, including $5.1 million and $0.3 million in construction in progress, respectively. |
Goodwill_and_Purchased_Intangi
Goodwill and Purchased Intangible Assets | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Goodwill and Purchased Intangible Assets | ' | |||||||||||||||
Note 5. Goodwill and Purchased Intangible Assets | ||||||||||||||||
The changes in the carrying amount of goodwill for the nine months ended September 30, 2014 are as follows (in thousands): | ||||||||||||||||
Balance as of December 31, 2013 | $ | — | ||||||||||||||
Goodwill acquired | 9,373 | |||||||||||||||
Goodwill adjustments | 216 | |||||||||||||||
Balance as of September 30, 2014 | $ | 9,589 | ||||||||||||||
Purchased intangible assets subject to amortization as of September 30, 2014 consist of the following (in thousands). No purchased intangible assets were recorded as of December 31, 2013. | ||||||||||||||||
Cost | Accumulated | Net | Remaining Useful Life | |||||||||||||
Amortization | ||||||||||||||||
(In years) | ||||||||||||||||
Developed technology | $ | 5,200 | $ | (787 | ) | $ | 4,413 | 3 | ||||||||
Customer relationships | 1,300 | (172 | ) | 1,128 | 3.5 | |||||||||||
Trade name | 60 | (32 | ) | 28 | 0.5 | |||||||||||
$ | 6,560 | $ | (991 | ) | $ | 5,569 | ||||||||||
Amortization expense of purchased intangible assets for the three and nine months ended September 30, 2014 was $0.5 million and $1.0 million, respectively. No amortization expense was recorded for the three and nine months ended September 30, 2013. | ||||||||||||||||
Estimated future amortization expense as of September 30, 2014 is as follows (in thousands): | ||||||||||||||||
Remainder of 2014 | $ | 471 | ||||||||||||||
2015 | 1,823 | |||||||||||||||
2016 | 1,810 | |||||||||||||||
2017 | 1,393 | |||||||||||||||
2018 | 72 | |||||||||||||||
2019 and thereafter | — | |||||||||||||||
$ | 5,569 | |||||||||||||||
Credit_Facility
Credit Facility | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Debt Disclosure [Abstract] | ' | |||
Credit Facility | ' | |||
Note 6. Credit Facility | ||||
We have a credit facility with Silicon Valley Bank consisting of a $20.0 million revolving line of credit and a $10.0 million equipment line of credit. As of December 31, 2013, outstanding balance under the revolving line of credit was $20.0 million. In June 2014 we repaid all outstanding principal and accrued interest under the revolving line of credit and as of September 30, 2014 there was no balance outstanding. As of September 30, 2014 and December 31, 2013, outstanding balance under the equipment line of credit was $7.7 million and $3.8 million, respectively. | ||||
Prior to our IPO, borrowings on the revolving line of credit bore interest at the Prime Rate plus 2.0% per annum. Upon the consummation of the IPO, the interest rate was reduced to the Prime Rate of 3.25% as of September 30, 2014. Borrowings on the revolving line of credit are subject to a borrowing base limit determined monthly based on our recurring revenue metrics from previous months and the ratio of certain current assets to current liabilities as of the previous month end. To the extent we borrow funds pursuant to the revolving line of credit, we are entitled to make interest-only payments until January 1, 2016, when the outstanding balance is due in full. | ||||
Borrowings on the equipment line of credit bear interest of 2.5% per annum. For each equipment advance, we were entitled to make interest-only payments until September 14, 2014, when the last draw against the equipment line of credit could be made. The outstanding balance as of September 14, 2014 is payable in 30 equal monthly installments, with the last payment due on March 14, 2017. We are also required to make a final payment fee of $0.3 million on March 14, 2017. | ||||
The credit facility is collateralized by substantially all of our assets, excluding our intellectual property. Our domestic subsidiary is a guarantor of the credit facility and we have pledged up to 65% of the equity in our international subsidiaries as collateral. The credit facility also imposes various covenants on us, including the delivery of financial and other information, the maintenance of our primary operating and securities accounts with the lender, the maintenance of minimum revenue targets and an agreed ratio of certain current assets to current liabilities, as well as limitations on dispositions, changes in business or management, certain mergers or consolidations, dividends and other corporate activities. As of September 30, 2014 and December 31, 2013, we were in compliance with all of the covenants contained in the credit facility. | ||||
Contractual future principal repayments in relation to the credit facility are as follows for the year ending December 31 (in thousands): | ||||
2014 (remaining 3 months) | $ | 749 | ||
2015 | 3,041 | |||
2016 | 3,118 | |||
2017 | 792 | |||
2018 and thereafter | — | |||
$ | 7,700 | |||
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2014 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Note 7. Commitments and Contingencies | |
Leases | |
We lease office space under noncancelable operating leases with various expiration dates. Certain of the office space lease agreements contain rent holidays or rent escalation provisions. Rent holiday and rent escalation provisions are considered in determining the straight-line expense to be recorded over the lease term. The lease term begins on the date of initial possession of the leased property for purposes of recognizing lease expense on a straight-line basis over the term of the lease. Rent expense was $1.7 million and $0.6 million for the three months ended September 30, 2014 and 2013, respectively, and $5.2 million and $1.5 million for the nine months ended September 30, 2014 and 2013, respectively. Deferred rent of $7.4 million and $1.0 million as of September 30, 2014 and December 31, 2013, respectively, is included in other liabilities. | |
We lease computer equipment from various parties under capital lease agreements that expire through March 2015. The total outstanding balance financed under capital leases was $0.1 million and $0.4 million as of September 30, 2014 and December 31, 2013, respectively. Accumulated depreciation on the leased assets was $0.9 million and $0.7 million as of September 30, 2014 and December 31, 2013, respectively. Depreciation of assets recorded under the capital leases is included in depreciation expense. | |
Litigation and Loss Contingencies | |
We accrue estimates for resolution of legal and other contingencies when losses are probable and estimable. From time to time, we may become a party to litigation and subject to claims incident to the ordinary course of business, including intellectual property claims, labor and employment claims, and threatened claims, breach of contract claims, tax, and other matters. We currently have no material pending litigation. | |
We are not currently aware of any litigation matters or loss contingencies that would be expected to have a material adverse effect on our business, consolidated financial position, results of operations, comprehensive loss, or cash flows. |
Common_Stock_and_Stockholders_
Common Stock and Stockholders' Equity (Deficit) | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | |||||||||||||||||||||||||||
Common Stock and Stockholders' Equity (Deficit) | ' | |||||||||||||||||||||||||||
Note 8. Common Stock and Stockholders’ Equity (Deficit) | ||||||||||||||||||||||||||||
Convertible Preferred Stock | ||||||||||||||||||||||||||||
Upon the completion of the IPO, all outstanding convertible preferred stock was converted into 34.3 million shares of common stock. | ||||||||||||||||||||||||||||
Reverse Stock Split | ||||||||||||||||||||||||||||
In April 2014, our board of directors and stockholders approved an amendment of our sixth amended and restated certificate of incorporation, as amended to effect a one-for-two reverse stock split of our common stock and a corresponding adjustment to the conversion prices of our redeemable convertible preferred stock. All share and per share information and the conversion prices of each outstanding series of our redeemable convertible preferred stock referenced throughout the condensed consolidated financial statements and notes to the condensed consolidated financial statements have been retroactively adjusted to reflect this stock split. | ||||||||||||||||||||||||||||
Common Stock Authorized | ||||||||||||||||||||||||||||
Upon the completion of the IPO, we increased the amount of common stock authorized for issuance from 125 million to 400 million common shares with a par value of $0.01 per share. | ||||||||||||||||||||||||||||
Employee Equity Plans | ||||||||||||||||||||||||||||
Employee Stock Purchase Plan | ||||||||||||||||||||||||||||
Our board of directors adopted the Employee Stock Purchase Plan, or ESPP, in February 2014, which became effective in May 2014 upon the effectiveness of the registration statement related to our IPO. The ESPP initially reserved and authorized the issuance of up to 3.6 million shares of common stock. The ESPP provides that the number of shares reserved and available for issuance under the plan will automatically increase each January, beginning on January 1, 2015, by the lesser of 1.5 million shares, 1% of the number of shares issued and outstanding on the immediately preceding December 31, or such lesser number of shares as determined by our compensation committee. | ||||||||||||||||||||||||||||
2009 Stock Option and Grant Plan | ||||||||||||||||||||||||||||
Our board of directors adopted the 2009 Stock Option and Grant Plan, or the 2009 Plan, in July 2009. The 2009 Plan was terminated in connection with our IPO, and accordingly, no shares are available for issuance under this plan. The 2009 Plan continues to govern outstanding awards granted thereunder. | ||||||||||||||||||||||||||||
2014 Stock Option and Grant Plan | ||||||||||||||||||||||||||||
Our board of directors adopted the 2014 Stock Option and Incentive Plan, or the 2014 Plan, in February 2014, which became effective in May 2014 upon the effectiveness of the registration statement related to our IPO. The 2014 Plan serves as the successor to our 2009 Plan. The 2014 Plan initially reserved and authorized the issuance of 7.5 million shares of our common stock. Additionally, shares not issued or subject to outstanding grants under the 2009 Plan rolled into the 2014 Plan, resulting in a total of 8.3 million available shares under the 2014 Plan as of the effective date. The 2014 Plan provides that the number of shares reserved and available for issuance under the plan will automatically increase each January 1, beginning on January 1, 2015, by 5% of the outstanding number of shares of our common stock on the immediately preceding December 31, or such lesser number of shares as determined by our compensation committee. | ||||||||||||||||||||||||||||
The following table summarizes our stock option and RSU award activities for the nine months ended September 30, 2014 (in thousands, except per share information): | ||||||||||||||||||||||||||||
Options Outstanding | RSUs Outstanding | |||||||||||||||||||||||||||
Weighted | ||||||||||||||||||||||||||||
Average | Weighted | |||||||||||||||||||||||||||
Shares | Weighted | Remaining | Aggregate | Average | ||||||||||||||||||||||||
Available | Number of | Average | Contractual | Intrinsic | Outstanding | Grant Date | ||||||||||||||||||||||
for Grant | Shares | Exercise Price | Term | Value | RSUs | Fair Value | ||||||||||||||||||||||
(In years) | ||||||||||||||||||||||||||||
Outstanding — January 1, 2014 | 1,854 | 10,134 | $ | 2.82 | 811 | $ | 6.76 | |||||||||||||||||||||
Increase in authorized shares | 13,750 | |||||||||||||||||||||||||||
Stock options granted | (6,008 | ) | 6,008 | 10.85 | ||||||||||||||||||||||||
RSUs granted | (2,643 | ) | 2,643 | 13.24 | ||||||||||||||||||||||||
Stock options exercised | — | (1,264 | ) | 2.17 | ||||||||||||||||||||||||
RSUs vested | — | (234 | ) | 8.64 | ||||||||||||||||||||||||
Stock options forfeited or canceled | 664 | (664 | ) | 3.6 | ||||||||||||||||||||||||
RSUs forfeited or cancelled | 276 | (276 | ) | 8.37 | ||||||||||||||||||||||||
Outstanding —September 30, 2014 | 7,893 | 14,214 | $ | 6.24 | 8.3 | $ | 218,185 | 2,944 | $ | 12.29 | ||||||||||||||||||
Aggregate intrinsic value represents the difference between the Company's closing stock price of its common stock and the exercise price of outstanding, in-the-money options. The Company’s closing stock price as reported on the New York Stock Exchange as of September 30, 2014 was $21.59. | ||||||||||||||||||||||||||||
During the three and nine months ended September 30, 2014 we recorded $2.8 million and $4.3 million share-based compensation expense, respectively, related to the accelerated vesting of certain stock options and RSUs. | ||||||||||||||||||||||||||||
Early Exercise of Stock Options and Purchase of Unvested Stock Awards | ||||||||||||||||||||||||||||
Certain of our stock options permit early exercise. Common stock purchased pursuant to an early exercise of stock options or unvested stock awards is not deemed to be outstanding for financial reporting purposes until those shares vest. Therefore, cash received in exchange for unvested shares is recorded as a liability and is transferred into common stock and additional paid-in capital as the shares vest. Upon termination of service, we may, at our discretion, repurchase unvested shares acquired through early exercise of stock options or purchase of unvested stock awards at a price equal to the price per share paid upon the exercise of such options or the purchase of such unvested stock awards. As of September 30, 2014 and December 31, 2013, there were 0.7 million and 0.8 million shares, respectively, outstanding as a result of the early exercise of stock options and purchase of unvested stock awards that were classified as accrued liabilities for an aggregated amount of $2.4 million and $1.4 million, respectively. There were no repurchases during the three and nine months ended September 30, 2014. | ||||||||||||||||||||||||||||
Net_Loss_per_Share
Net Loss per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Net Loss per Share | ' | |||||||||||||||
Note 9. Net Loss Per Share | ||||||||||||||||
We compute net loss per share of common stock in conformity with the two-class method required for participating securities. We considered all series of the redeemable convertible preferred stock to be participating securities as the holders of the preferred stock were entitled to receive a non-cumulative dividend on a pari passu basis in the event that a dividend is paid on common stock. We also consider shares of common stock issued upon the early exercise of stock options subject to repurchase to be participating securities, because holders of such shares have non-forfeitable dividend rights in the event a dividend is paid on common stock. The holders of all series of the redeemable convertible preferred stock and the holders of shares of common stock acquired upon early exercise of stock options do not have a contractual obligation to share in our losses. As such, our net losses for the three and nine months ended September 30, 2014 and 2013 were not allocated to these participating securities. Upon the closing of the IPO in May 2014, all shares of our then-outstanding redeemable convertible preferred stock automatically converted into our common stock. | ||||||||||||||||
Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, less the weighted-average unvested common stock subject to repurchase. Diluted net loss per share is computed by giving effect to all potential shares of common stock, including common stock issuable upon conversion of the redeemable convertible preferred stock, outstanding share-based awards, and outstanding warrants, to the extent dilutive. Basic and diluted net loss per share was the same for each period presented as the inclusion of all potential common stock outstanding would have been anti-dilutive. | ||||||||||||||||
The following table presents the calculation of basic and diluted net loss per share for the periods presented (in thousands, except per share data): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net loss | $ | (17,919 | ) | $ | (4,755 | ) | $ | (49,922 | ) | $ | (16,465 | ) | ||||
Less: Accretion of redeemable convertible preferred stock | — | (12 | ) | (18 | ) | (36 | ) | |||||||||
Net loss attributable to common stockholders | $ | (17,919 | ) | $ | (4,767 | ) | $ | (49,940 | ) | $ | (16,501 | ) | ||||
Basic shares: | ||||||||||||||||
Weighted-average shares used to compute basic net loss per share | 71,732 | 22,024 | 46,110 | 21,486 | ||||||||||||
Diluted shares: | ||||||||||||||||
Weighted-average shares used to compute diluted net loss per share | 71,732 | 22,024 | 46,110 | 21,486 | ||||||||||||
Net loss per share attributable to common stockholders: | ||||||||||||||||
Basic and diluted | $ | (0.25 | ) | $ | (0.22 | ) | $ | (1.08 | ) | $ | (0.77 | ) | ||||
The anti-dilutive securities excluded from the shares used to calculate the diluted net loss per share are as follows (in thousands): | ||||||||||||||||
As of September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Redeemable convertible preferred stock | — | 34,323 | ||||||||||||||
Shares subject to outstanding common stock options | 14,214 | 10,351 | ||||||||||||||
Shares subject to common stock warrants | — | 125 | ||||||||||||||
Restricted stock units | 2,944 | 554 | ||||||||||||||
17,158 | 45,353 | |||||||||||||||
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Note 10. Income Taxes | |
The effective tax rates for the three and nine months ended September 30, 2014 and 2013 were one percent. The effective tax rate differs from the statutory rate primarily as a result of not recognizing a deferred tax asset for U.S. losses due to having a full valuation allowance against U.S. deferred tax assets. The tax benefit recorded for the three and nine months ended September 30, 2014 is primarily due to recognizing deferred tax assets in foreign jurisdictions for losses and research credits. There were no material changes to the unrecognized tax benefits in the three and nine months ended September 30, 2014 and 2013. |
Geographic_Information
Geographic Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Geographic Information | ' | |||||||||||||||
Note 11. Geographic Information | ||||||||||||||||
Our chief operating decision maker reviews the financial information presented on a consolidated basis for purposes of allocating resources and evaluating our financial performance. Accordingly, we have determined that we operate in a single reporting segment. | ||||||||||||||||
Revenue | ||||||||||||||||
The following table presents our revenue by geographic areas, as determined based on the billing address of our customers (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
United States | $ | 19,031 | $ | 11,432 | $ | 50,774 | $ | 29,000 | ||||||||
EMEA | 9,704 | 4,993 | 24,565 | 13,236 | ||||||||||||
Other | 5,175 | 2,812 | 13,169 | 7,308 | ||||||||||||
Total | $ | 33,910 | $ | 19,237 | $ | 88,508 | $ | 49,544 | ||||||||
Long-Lived Assets | ||||||||||||||||
The following table presents our long-lived assets by geographic areas (in thousands): | ||||||||||||||||
As of | As of | |||||||||||||||
30-Sep-14 | 31-Dec-13 | |||||||||||||||
United States | $ | 23,396 | $ | 6,466 | ||||||||||||
EMEA | 4,683 | 2,054 | ||||||||||||||
Other | 532 | 135 | ||||||||||||||
Total | $ | 28,611 | $ | 8,655 | ||||||||||||
The carrying value of capitalized internal-use software and intangible assets is excluded from the balance of long-lived assets presented in the table above. |
Overview_and_Basis_of_Presenta1
Overview and Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Use of Estimates | ' |
Use of Estimates | |
The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reported periods. Significant items subject to such estimates and assumptions include the fair value of share-based awards, fair value of acquired intangible assets, goodwill, unrecognized tax benefits, useful lives of intangible assets and property and equipment, and the capitalization and estimated useful life of our capitalized internal-use software. | |
These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from those estimates. | |
Concentrations of Risk | ' |
Concentrations of Risk | |
At September 30, 2014, there was one customer represented 17% of our total accounts receivable balance. At December 31, 2013, there were no customers that represented more than 10% of our accounts receivable balance. There were no customers that individually exceeded 10% of our revenue during the three and nine months ended September 30, 2014. | |
Recently Issued and Adopted Accounting Pronouncements | ' |
Recently Issued and Adopted Accounting Pronouncements | |
On May 28, 2014, the FASB issued ASU 2014-09 regarding ASC Topic 606 “Revenue from Contracts with Customers.” This ASU provides principles for recognizing revenue to which an entity expects to be entitled for the transfer of promised goods or services to customers. This ASU will be effective for our fiscal year beginning January 1, 2017. Early adoption is not permitted. We are currently evaluating the accounting, transition and disclosure requirements of the standard and cannot currently estimate the financial statement impact of adoption. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||
Assets Measured at Fair Value on Recurring Basis | ' | |||||||||||
The following tables present information about our financial assets measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013 based on the three-tier fair value hierarchy (in thousands): | ||||||||||||
Fair Value Measurement at | ||||||||||||
30-Sep-14 | ||||||||||||
Level 1 | Level 2 | Total | ||||||||||
Description | ||||||||||||
Corporate securities | $ | — | 41,140 | $ | 41,140 | |||||||
Money market funds | 24,820 | — | 24,820 | |||||||||
U.S. treasury securities | — | 2,998 | 2,998 | |||||||||
Asset-backed securities | — | 2,026 | 2,026 | |||||||||
U.S. agency obligations | — | 1,002 | 1,002 | |||||||||
Commercial paper | — | 699 | 699 | |||||||||
Total | $ | 24,820 | $ | 47,865 | $ | 72,685 | ||||||
Included in cash and cash equivalents | $ | 24,820 | ||||||||||
Included in marketable securities | $ | 47,865 | ||||||||||
Fair Value Measurement at | ||||||||||||
31-Dec-13 | ||||||||||||
Level 1 | Level 2 | Total | ||||||||||
Description | ||||||||||||
Corporate securities | $ | — | $ | 12,114 | $ | 12,114 | ||||||
Money market funds | 10,836 | — | 10,836 | |||||||||
Total | $ | 10,836 | $ | 12,114 | $ | 22,950 | ||||||
Included in cash and cash equivalents | $ | 10,836 | ||||||||||
Included in marketable securities | $ | 12,114 | ||||||||||
Schedule of Available for Sale Marketable Securities Classified by Contractual Maturities | ' | |||||||||||
The following table classifies our available-for-sale marketable securities by contractual maturities as of September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||
September 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Due in one year | $ | 29,858 | $ | 9,889 | ||||||||
Due in one to five years | 18,007 | 2,225 | ||||||||||
Total | $ | 47,865 | $ | 12,114 | ||||||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property Plant And Equipment [Abstract] | ' | |||||||
Components of Property and Equipment | ' | |||||||
Property and equipment, net consists of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Capitalized internal-use software | $ | 14,453 | $ | 11,104 | ||||
Furniture and fixtures | 4,440 | 1,383 | ||||||
Hosting equipment | 12,423 | 7,931 | ||||||
Computer equipment and software | 3,898 | 1,680 | ||||||
Leasehold improvements | 14,871 | 1,717 | ||||||
Construction in progress | 6,198 | 341 | ||||||
Total | 56,283 | 24,156 | ||||||
Less accumulated depreciation and amortization | (15,419 | ) | (8,725 | ) | ||||
Property and equipment, net | $ | 40,864 | $ | 15,431 | ||||
Goodwill_and_Purchased_Intangi1
Goodwill and Purchased Intangible Assets (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Summary of Changes in Carrying Amount of Goodwill | ' | |||||||||||||||
The changes in the carrying amount of goodwill for the nine months ended September 30, 2014 are as follows (in thousands): | ||||||||||||||||
Balance as of December 31, 2013 | $ | — | ||||||||||||||
Goodwill acquired | 9,373 | |||||||||||||||
Goodwill adjustments | 216 | |||||||||||||||
Balance as of September 30, 2014 | $ | 9,589 | ||||||||||||||
Summary of Intangible Assets Acquired | ' | |||||||||||||||
Purchased intangible assets subject to amortization as of September 30, 2014 consist of the following (in thousands). No purchased intangible assets were recorded as of December 31, 2013. | ||||||||||||||||
Cost | Accumulated | Net | Remaining Useful Life | |||||||||||||
Amortization | ||||||||||||||||
(In years) | ||||||||||||||||
Developed technology | $ | 5,200 | $ | (787 | ) | $ | 4,413 | 3 | ||||||||
Customer relationships | 1,300 | (172 | ) | 1,128 | 3.5 | |||||||||||
Trade name | 60 | (32 | ) | 28 | 0.5 | |||||||||||
$ | 6,560 | $ | (991 | ) | $ | 5,569 | ||||||||||
Summary of Estimated Future Amortization Expense | ' | |||||||||||||||
Estimated future amortization expense as of September 30, 2014 is as follows (in thousands): | ||||||||||||||||
Remainder of 2014 | $ | 471 | ||||||||||||||
2015 | 1,823 | |||||||||||||||
2016 | 1,810 | |||||||||||||||
2017 | 1,393 | |||||||||||||||
2018 | 72 | |||||||||||||||
2019 and thereafter | — | |||||||||||||||
$ | 5,569 | |||||||||||||||
Credit_Facility_Tables
Credit Facility (Tables) | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Debt Disclosure [Abstract] | ' | |||
Schedule of Contractual Future Principal Repayments in Relation to Credit Facility | ' | |||
Contractual future principal repayments in relation to the credit facility are as follows for the year ending December 31 (in thousands): | ||||
2014 (remaining 3 months) | $ | 749 | ||
2015 | 3,041 | |||
2016 | 3,118 | |||
2017 | 792 | |||
2018 and thereafter | — | |||
$ | 7,700 | |||
Common_Stock_and_Stockholders_1
Common Stock and Stockholders' Equity (Deficit) (Tables) | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | |||||||||||||||||||||||||||
Summary of Stock Option and RSU Award Activity | ' | |||||||||||||||||||||||||||
The following table summarizes our stock option and RSU award activities for the nine months ended September 30, 2014 (in thousands, except per share information): | ||||||||||||||||||||||||||||
Options Outstanding | RSUs Outstanding | |||||||||||||||||||||||||||
Weighted | ||||||||||||||||||||||||||||
Average | Weighted | |||||||||||||||||||||||||||
Shares | Weighted | Remaining | Aggregate | Average | ||||||||||||||||||||||||
Available | Number of | Average | Contractual | Intrinsic | Outstanding | Grant Date | ||||||||||||||||||||||
for Grant | Shares | Exercise Price | Term | Value | RSUs | Fair Value | ||||||||||||||||||||||
(In years) | ||||||||||||||||||||||||||||
Outstanding — January 1, 2014 | 1,854 | 10,134 | $ | 2.82 | 811 | $ | 6.76 | |||||||||||||||||||||
Increase in authorized shares | 13,750 | |||||||||||||||||||||||||||
Stock options granted | (6,008 | ) | 6,008 | 10.85 | ||||||||||||||||||||||||
RSUs granted | (2,643 | ) | 2,643 | 13.24 | ||||||||||||||||||||||||
Stock options exercised | — | (1,264 | ) | 2.17 | ||||||||||||||||||||||||
RSUs vested | — | (234 | ) | 8.64 | ||||||||||||||||||||||||
Stock options forfeited or canceled | 664 | (664 | ) | 3.6 | ||||||||||||||||||||||||
RSUs forfeited or cancelled | 276 | (276 | ) | 8.37 | ||||||||||||||||||||||||
Outstanding —September 30, 2014 | 7,893 | 14,214 | $ | 6.24 | 8.3 | $ | 218,185 | 2,944 | $ | 12.29 | ||||||||||||||||||
Net_Loss_per_Share_Tables
Net Loss per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Computation of Basic and Diluted Net Loss per Share | ' | |||||||||||||||
The following table presents the calculation of basic and diluted net loss per share for the periods presented (in thousands, except per share data): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net loss | $ | (17,919 | ) | $ | (4,755 | ) | $ | (49,922 | ) | $ | (16,465 | ) | ||||
Less: Accretion of redeemable convertible preferred stock | — | (12 | ) | (18 | ) | (36 | ) | |||||||||
Net loss attributable to common stockholders | $ | (17,919 | ) | $ | (4,767 | ) | $ | (49,940 | ) | $ | (16,501 | ) | ||||
Basic shares: | ||||||||||||||||
Weighted-average shares used to compute basic net loss per share | 71,732 | 22,024 | 46,110 | 21,486 | ||||||||||||
Diluted shares: | ||||||||||||||||
Weighted-average shares used to compute diluted net loss per share | 71,732 | 22,024 | 46,110 | 21,486 | ||||||||||||
Net loss per share attributable to common stockholders: | ||||||||||||||||
Basic and diluted | $ | (0.25 | ) | $ | (0.22 | ) | $ | (1.08 | ) | $ | (0.77 | ) | ||||
Schedule of Anti-Dilutive Securities Excluded from the Diluted per Share Calculation | ' | |||||||||||||||
The anti-dilutive securities excluded from the shares used to calculate the diluted net loss per share are as follows (in thousands): | ||||||||||||||||
As of September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Redeemable convertible preferred stock | — | 34,323 | ||||||||||||||
Shares subject to outstanding common stock options | 14,214 | 10,351 | ||||||||||||||
Shares subject to common stock warrants | — | 125 | ||||||||||||||
Restricted stock units | 2,944 | 554 | ||||||||||||||
17,158 | 45,353 | |||||||||||||||
Geographic_Information_Tables
Geographic Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of Revenue by Geographic Areas | ' | |||||||||||||||
The following table presents our revenue by geographic areas, as determined based on the billing address of our customers (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
United States | $ | 19,031 | $ | 11,432 | $ | 50,774 | $ | 29,000 | ||||||||
EMEA | 9,704 | 4,993 | 24,565 | 13,236 | ||||||||||||
Other | 5,175 | 2,812 | 13,169 | 7,308 | ||||||||||||
Total | $ | 33,910 | $ | 19,237 | $ | 88,508 | $ | 49,544 | ||||||||
Schedule of Long-Lived Assets by Geographic Areas | ' | |||||||||||||||
The following table presents our long-lived assets by geographic areas (in thousands): | ||||||||||||||||
As of | As of | |||||||||||||||
30-Sep-14 | 31-Dec-13 | |||||||||||||||
United States | $ | 23,396 | $ | 6,466 | ||||||||||||
EMEA | 4,683 | 2,054 | ||||||||||||||
Other | 532 | 135 | ||||||||||||||
Total | $ | 28,611 | $ | 8,655 | ||||||||||||
Overview_and_Basis_of_Presenta2
Overview and Basis of Presentation - Additional Information (Details) (USD $) | 1 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | ||||
Share data in Millions, except Per Share data, unless otherwise specified | 31-May-14 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | 31-May-14 |
Performance Awards | Performance Awards | Maximum | Minimum | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | IPO | |||
Performance Awards | Performance Awards | Accounts Receivable | Accounts Receivable | Accounts Receivable | Revenue | Revenue | Revenue | Revenue | ||||||
Customer | Customer | Maximum | Customer | Customer | Maximum | Maximum | ||||||||
Overview And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Year founded | ' | '2007 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reincorporated date | ' | '2009-04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock sold in initial public offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.8 |
Share price | ' | $21.59 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9 |
Proceeds from initial public offering, net of underwriting discounts and commissions and other offering expenses | $103,110,000 | $103,110,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Underwriting discounts and commission on IPO | 8,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Offering expenses | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock issued upon automatic conversion of convertible preferred stock | 34.3 | 34.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future period share-based compensation expense | ' | 74,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future period share-based compensation expense, period to recognized | ' | '3 years 7 months 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of total revenue or receivables | ' | ' | ' | ' | ' | ' | 17.00% | ' | 10.00% | ' | ' | 10.00% | 10.00% | ' |
Number of customers | ' | ' | ' | ' | ' | ' | 1 | 0 | ' | 0 | 0 | ' | ' | ' |
Service condition for performance awards | ' | ' | ' | ' | '4 years | '3 years | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation expense | ' | ' | $2,900,000 | $9,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition_Additional_Informa
Acquisition - Additional Information (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Mar. 21, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 21, 2014 | Mar. 21, 2014 | Mar. 21, 2014 | Mar. 21, 2014 |
Share data in Millions, unless otherwise specified | Zopim | Zopim | Zopim | Zopim | Zopim | Zopim | Zopim | ||
Common Stock Consideration | Cash | Minimum | Maximum | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments to goodwill related to working capital adjustments | ' | ' | ' | ' | $200,000 | ' | ' | ' | ' |
Adjustments to the preliminary purchase price | ' | ' | ' | 0 | ' | ' | ' | ' | ' |
Business acquisition, fair value of consideration transferred | ' | ' | 15,800,000 | ' | ' | ' | ' | ' | ' |
Business acquisition, fair value of consideration transferred, cash | ' | ' | 4,900,000 | ' | ' | ' | ' | ' | ' |
Business acquisition, fair value of consideration transferred, common stock | ' | ' | 10,900,000 | ' | ' | ' | ' | ' | ' |
Cash portion of fair value consideration transferred | ' | ' | ' | ' | ' | 2,400,000 | 1,100,000 | ' | ' |
Number of months that cash and shares were held back | ' | ' | ' | ' | ' | ' | ' | '12 months | '18 months |
Business acquisition, goodwill | 9,589,000 | 0 | 9,600,000 | ' | ' | ' | ' | ' | ' |
Business acquisition, identifiable intangible assets | ' | ' | 6,600,000 | ' | ' | ' | ' | ' | ' |
Business acquisition liabilities assumed, net | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' |
RSUs issued pursuant to retention plan, in connection with the acquisition | ' | ' | 0.9 | ' | ' | ' | ' | ' | ' |
Cash to be pay pursuant to retention plan, in connection with the acquisition | ' | ' | $3,000,000 | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Financ
Fair Value Measurements - Financial Assets Measured at Fair Value on Recurring Basis (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | $72,685 | $22,950 |
Included in cash and cash equivalents | 24,820 | 10,836 |
Included in marketable securities | 47,865 | 12,114 |
Level 1 | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 24,820 | 10,836 |
Level 2 | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 47,865 | 12,114 |
Corporate securities | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 41,140 | 12,114 |
Corporate securities | Level 2 | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 41,140 | 12,114 |
Money market funds | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 24,820 | 10,836 |
Money market funds | Level 1 | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 24,820 | 10,836 |
U.S. treasury securities | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 2,998 | ' |
U.S. treasury securities | Level 2 | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 2,998 | ' |
Asset-backed Securities | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 2,026 | ' |
Asset-backed Securities | Level 2 | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 2,026 | ' |
U.S. agency obligations | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 1,002 | ' |
U.S. agency obligations | Level 2 | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 1,002 | ' |
Commercial paper | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | 699 | ' |
Commercial paper | Level 2 | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Total fair value of financial assets | $699 | ' |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Details) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Fair Value Disclosures [Abstract] | ' | ' |
Gross unrealized gains or losses for cash equivalent and available for sale marketable securities | $0 | $0 |
Securities that were in an unrealized loss position for more than 12 months. | $0 | $0 |
Fair_Value_Measurements_Market
Fair Value Measurements - Marketable Securities Available for Sale by Contractual Maturities (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Disclosures [Abstract] | ' | ' |
Due in one year | $29,858 | $9,889 |
Due in one to five years | 18,007 | 2,225 |
Total | $47,865 | $12,114 |
Property_and_Equipment_Compone
Property and Equipment - Components of Property and Equipment (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property Plant And Equipment [Line Items] | ' | ' |
Property and equipment, gross | $56,283 | $24,156 |
Less accumulated depreciation and amortization | -15,419 | -8,725 |
Property and equipment, net | 40,864 | 15,431 |
Capitalized Internal-Use Software | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' |
Property and equipment, gross | 14,453 | 11,104 |
Furniture and Fixtures | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' |
Property and equipment, gross | 4,440 | 1,383 |
Hosting Equipment | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' |
Property and equipment, gross | 12,423 | 7,931 |
Computer Equipment and Software | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' |
Property and equipment, gross | 3,898 | 1,680 |
Leasehold Improvements | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' |
Property and equipment, gross | 14,871 | 1,717 |
Construction in Progress | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' |
Property and equipment, gross | $6,198 | $341 |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Property Plant And Equipment [Abstract] | ' | ' | ' | ' | ' |
Depreciation expense | $1,700,000 | $800,000 | $4,000,000 | $1,900,000 | ' |
Capitalized internal-use software | 3,100,000 | 1,300,000 | 8,100,000 | 3,700,000 | ' |
Share-based compensation capitalized in internal-use software development costs | 800,000 | 33,000 | 1,856,000 | 118,000 | ' |
Amortization expense of capitalized internal-use software | 900,000 | 600,000 | 2,600,000 | 1,600,000 | ' |
Carrying value of capitalized internal-use software | 12,300,000 | ' | 12,300,000 | ' | 6,800,000 |
Construction in progress | $5,100,000 | ' | $5,100,000 | ' | $300,000 |
Goodwill_and_Purchased_Intangi2
Goodwill and Purchased Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
Beginning balance | $0 |
Goodwill acquired | 9,373 |
Goodwill adjustments | 216 |
Ending balance | $9,589 |
Goodwill_and_Purchased_Intangi3
Goodwill and Purchased Intangible Assets - Additional Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' | ' |
Cost | $6,560,000 | ' | $6,560,000 | ' | $0 |
Amortization expense | $500,000 | $0 | $1,000,000 | $0 | ' |
Goodwill_and_Purchased_Intangi4
Goodwill and Purchased Intangible Assets - Summary of Intangible Assets Acquired (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | Developed Technology | Customer Relationships | Trade Name | ||
Finite Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Cost | $6,560 | $0 | $5,200 | $1,300 | $60 |
Accumulated Amortization | -991 | ' | -787 | -172 | -32 |
Net | $5,569 | ' | $4,413 | $1,128 | $28 |
Remaining Useful Life | ' | ' | '3 years | '3 years 6 months | '6 months |
Goodwill_and_Purchased_Intangi5
Goodwill and Purchased Intangible Assets - Summary of Estimated Future Amortization Expense (Details) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
Remainder of 2014 | $471 |
2015 | 1,823 |
2016 | 1,810 |
2017 | 1,393 |
2018 | 72 |
2019 and thereafter | 0 |
Net | $5,569 |
Credit_Facility_Additional_Inf
Credit Facility - Additional Information (Details) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Silicon Valley Bank | Silicon Valley Bank | Silicon Valley Bank | Silicon Valley Bank | Silicon Valley Bank | ||
Prime Rate | Revolving Line of Credit | Revolving Line of Credit | Equipment Line of Credit | Equipment Line of Credit | ||
Line Of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' |
Credit facility | ' | ' | ' | $20 | $10 | ' |
Line of credit outstanding amount | ' | ' | 20 | 0 | 7.7 | 3.8 |
Percentage of interest rate above the prime rate | ' | ' | 2.00% | ' | ' | ' |
Credit facility interest rate | ' | 3.25% | ' | ' | ' | ' |
Credit facility interest rate | ' | ' | ' | ' | 2.50% | ' |
Credit facility, outstanding balance payable period | ' | ' | ' | ' | '30 months | ' |
Credit facility, frequency of payment and payment terms | ' | ' | ' | ' | 'The outstanding balance as of September 14, 2014 is payable in 30 equal monthly installments, with the last payment due on March 14, 2017. | ' |
Final payment on principal amount | ' | ' | ' | ' | $0.30 | ' |
Percentage of equity pledged in international subsidiaries as collateral | 65.00% | ' | ' | ' | ' | ' |
Credit_Facility_Schedule_of_Co
Credit Facility - Schedule of Contractual Future Principal Repayments in Relation to Credit Facility (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 (remaining 3 months) | $749 |
2015 | 3,041 |
2016 | 3,118 |
2017 | 792 |
2018 and thereafter | 0 |
Contractual future principal repayments, Total | $7,700 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' | ' | ' |
Rent expense | $1,700,000 | $600,000 | $5,200,000 | $1,500,000 | ' |
Deferred rent | 7,400,000 | ' | 7,400,000 | ' | 1,000,000 |
Capital lease expiration date | ' | ' | 31-Mar-15 | ' | ' |
Current portion of capital leases | 103,000 | ' | 103,000 | ' | 364,000 |
Accumulated depreciation on leased assets | $900,000 | ' | $900,000 | ' | $700,000 |
Common_Stock_and_Stockholders_2
Common Stock and Stockholders' Equity (Deficit) - Additional Information (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
In Millions, except Share data, unless otherwise specified | 31-May-14 | Apr. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Number of shares of common stock issued upon conversion of convertible preferred stock | 34,300,000 | ' | ' | 34,300,000 | ' |
Reverse stock split of common stock | ' | 0.5 | ' | ' | ' |
Common stock, shares authorized | ' | ' | 400,000,000 | 400,000,000 | 125,000,000 |
Common stock, par value | ' | ' | $0.01 | $0.01 | $0.01 |
Share-based compensation, number of shares available for grant | ' | ' | 7,893,000 | 7,893,000 | 1,854,000 |
Closing stock price of aggregate intrinsic value | ' | ' | $21.59 | $21.59 | ' |
Shares outstanding as a result of early exercise of stock options and purchase of unvested stock awards | ' | ' | 700,000 | 700,000 | 800,000 |
Accrued liability for shares outstanding as a result of early exercise of stock options and purchase of unvested stock awards | ' | ' | $2.40 | $2.40 | $1.40 |
Shares repurchased | ' | ' | 0 | 0 | ' |
Stock options and RSUs | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Share based compensation related to accelerated vesting | ' | ' | $2.80 | $4.30 | ' |
Employee Stock Purchase Plan | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Share-based compensation, initial reserves and authorized shares of common stock | 3,600,000 | ' | ' | ' | ' |
Shares reserved and available for issuance under the plan, automatically increase each January | 1,500,000 | ' | ' | ' | ' |
Share-based compensation, increase in number of shares reserved and available for issuance as percentage of shares issued and outstanding | 1.00% | ' | ' | ' | ' |
2014 Stock Option and Grant Plan | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Share-based compensation, initial reserves and authorized shares of common stock | 7,500,000 | ' | ' | ' | ' |
Share-based compensation, increase in number of shares reserved and available for issuance as percentage of shares issued and outstanding | ' | ' | ' | 5.00% | ' |
Share-based compensation, number of shares available for grant | ' | ' | 8,300,000 | 8,300,000 | ' |
Common_Stock_and_Stockholders_3
Common Stock and Stockholders' Equity (Deficit) - Summary of Stock Option and RSU Award Activity (Details) (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 |
Shares Available for Grant | ' |
Balance at the beginning of the period | 1,854 |
Increase in authorized shares | 13,750 |
Stock options granted | -6,008 |
RSUs granted | -2,643 |
Stock options forfeited or canceled | 664 |
RSUs forfeited or cancelled | 276 |
Balance at the end of the period | 7,893 |
Number of Shares | ' |
Balance at the beginning of the period | 10,134 |
Stock options granted | 6,008 |
Stock options exercised | -1,264 |
Stock options forfeited or canceled | -664 |
Balance at the end of the period | 14,214 |
Weighted-Average Exercise Price | ' |
Balance at the beginning of the period | $2.82 |
Stock options granted | $10.85 |
Stock options exercised | $2.17 |
Stock options forfeited or canceled | $3.60 |
Balance at the end of the period | $6.24 |
Weighted Average Remaining Contractual Term | ' |
Options Outstanding, Weighted-average remaining contractual term | '8 years 3 months 18 days |
Aggregate Intrinsic Value | ' |
Options Outstanding, Aggregate Intrinsic Value, Balance at end of period | $218,185 |
Outstanding RSUs | ' |
Balance at the beginning of the period | 811 |
RSUs granted | 2,643 |
RSUs vested | -234 |
RSUs forfeited or cancelled | -276 |
Balance at the end of the period | 2,944 |
Weighted-Average Grant Date Fair Value | ' |
Balance at the beginning of the period | $6.76 |
RSUs granted | $13.24 |
RSUs vested | $8.64 |
RSUs forfeited or cancelled | $8.37 |
Balance at the end of the period | $12.29 |
Net_Loss_per_Share_Computation
Net Loss per Share - Computation of Basic and Diluted Net Loss per Share of Common Stock (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Net loss | ($17,919) | ($4,755) | ($49,922) | ($16,465) |
Accretion of redeemable convertible preferred stock | ' | -12 | -18 | -36 |
Net loss attributable to common stockholders | ($17,919) | ($4,767) | ($49,940) | ($16,501) |
Basic shares: | ' | ' | ' | ' |
Weighted-average shares used to compute basic net loss per share | 71,732 | 22,024 | 46,110 | 21,486 |
Diluted shares: | ' | ' | ' | ' |
Weighted-average shares used to compute diluted net loss per share | 71,732 | 22,024 | 46,110 | 21,486 |
Net loss per share attributable to common stockholders: | ' | ' | ' | ' |
Net loss per share attributable to common stockholders, basic and diluted | ($0.25) | ($0.22) | ($1.08) | ($0.77) |
Net_Loss_per_Share_Schedule_of
Net Loss per Share - Schedule of Anti-Dilutive Securities Excluded from the Diluted per Share Calculation (Details) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share amount | 17,158 | 45,353 |
Redeemable Convertible Preferred Stock | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share amount | ' | 34,323 |
Shares Subject to Outstanding Common Stock Options | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share amount | 14,214 | 10,351 |
Shares subject to common stock warrants | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share amount | ' | 125 |
Restricted Stock Units | ' | ' |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share amount | 2,944 | 554 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Details) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2014 | Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' | ' |
Effective income tax rate, percent | 1.00% | 1.00% |
Geographic_Information_Schedul
Geographic Information - Schedule of Revenue by Geographic Areas (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Revenues From External Customers And Long Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | $33,910 | $19,237 | $88,508 | $49,544 |
United States | ' | ' | ' | ' |
Revenues From External Customers And Long Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | 19,031 | 11,432 | 50,774 | 29,000 |
EMEA | ' | ' | ' | ' |
Revenues From External Customers And Long Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | 9,704 | 4,993 | 24,565 | 13,236 |
Other | ' | ' | ' | ' |
Revenues From External Customers And Long Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | $5,175 | $2,812 | $13,169 | $7,308 |
Geographic_Information_Schedul1
Geographic Information - Schedule of Long-Lived Assets by Geographic Areas (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Revenues From External Customers And Long Lived Assets [Line Items] | ' | ' |
Long-lived assets | $28,611 | $8,655 |
United States | ' | ' |
Revenues From External Customers And Long Lived Assets [Line Items] | ' | ' |
Long-lived assets | 23,396 | 6,466 |
EMEA | ' | ' |
Revenues From External Customers And Long Lived Assets [Line Items] | ' | ' |
Long-lived assets | 4,683 | 2,054 |
Other | ' | ' |
Revenues From External Customers And Long Lived Assets [Line Items] | ' | ' |
Long-lived assets | $532 | $135 |