Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jul. 31, 2019 | Aug. 28, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jul. 31, 2019 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | Anaplan, Inc. | |
Entity Central Index Key | 0001540755 | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Trading Symbol | PLAN | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity File Number | 001-38698 | |
Entity Tax Identification Number | 270897861 | |
Entity Address, Address Line One | 50 Hawthorne Street | |
Entity Address, City or Town | San Francisco | |
Entity Address, State or Province | California | |
Entity Address, Postal Zip Code | 94105 | |
City Area Code | 415 | |
Local Phone Number | 742-8199 | |
Entity Common Stock, Shares Outstanding | 131,827,778 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 355,955 | $ 326,863 |
Accounts receivable, net of allowances for doubtful accounts of $590 and $842 as of July 31, 2019 and January 31, 2019, respectively | 81,835 | 92,597 |
Deferred commissions, current portion | 19,936 | 15,827 |
Prepaid expenses and other current assets | 17,315 | 13,377 |
Total current assets | 475,041 | 448,664 |
Property and equipment, net | 44,682 | 43,340 |
Deferred commissions, net of current portion | 43,109 | 35,063 |
Operating lease right-of-use assets | 37,726 | |
Other noncurrent assets | 1,910 | 1,702 |
TOTAL ASSETS | 602,468 | 528,769 |
Current liabilities: | ||
Accounts payable | 7,286 | 6,182 |
Accrued expenses | 73,603 | 52,570 |
Deferred revenue, current portion | 164,904 | 149,611 |
Operating lease liabilities, current portion | 7,980 | |
Total current liabilities | 253,773 | 208,363 |
Deferred revenue, net of current portion | 2,085 | 1,232 |
Operating lease liabilities, net of current portion | 33,044 | |
Other noncurrent liabilities | 9,529 | 11,696 |
TOTAL LIABILITIES | 298,431 | 221,291 |
Stockholders' equity: | ||
Preferred stock, par value of $0.0001 per share; 25,000 shares authorized as of July 31, 2019 and January 31, 2019; no shares issued and outstanding as of July 31, 2019 and January 31, 2019 | ||
Common stock, par value of $0.0001 per share; 1,750,000 shares authorized as of July 31, 2019 and January 31, 2019; 131,631 and 126,246 shares issued and outstanding as of July 31, 2019 and January 31, 2019 | 13 | 12 |
Accumulated other comprehensive loss | (1,007) | (3,036) |
Additional paid-in capital | 726,100 | 653,738 |
Accumulated deficit | (421,069) | (343,236) |
TOTAL STOCKHOLDERS' EQUITY | 304,037 | 307,478 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 602,468 | $ 528,769 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Statement Of Financial Position [Abstract] | ||
Accounts receivable, allowances for doubtful accounts | $ 590 | $ 842 |
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 25,000,000 | 25,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 1,750,000,000 | 1,750,000,000 |
Common stock, shares issued | 131,631,000 | 126,246,000 |
Common stock, shares outstanding | 131,631,000 | 126,246,000 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Revenue: | ||||
Total revenue | $ 84,540 | $ 57,828 | $ 160,370 | $ 109,378 |
Cost of revenue: | ||||
Total cost of revenue | 22,507 | 15,959 | 44,084 | 29,991 |
Gross profit | 62,033 | 41,869 | 116,286 | 79,387 |
Operating expenses: | ||||
Research and development | 16,442 | 12,158 | 31,501 | 23,849 |
Sales and marketing | 63,997 | 38,617 | 120,287 | 77,922 |
General and administrative | 22,801 | 11,042 | 42,814 | 22,870 |
Total operating expenses | 103,240 | 61,817 | 194,602 | 124,641 |
Loss from operations | (41,207) | (19,948) | (78,316) | (45,254) |
Interest income, net | 1,339 | 36 | 2,590 | 125 |
Other income (expense), net | 548 | (229) | 302 | (640) |
Loss before income taxes | (39,320) | (20,141) | (75,424) | (45,769) |
Provision for income taxes | (1,322) | (907) | (2,409) | (1,460) |
Net loss | (40,642) | (21,048) | (77,833) | (47,229) |
Comprehensive loss: | ||||
Foreign currency translation adjustments | 2,295 | (126) | 2,029 | (198) |
Comprehensive loss | $ (38,347) | $ (21,174) | $ (75,804) | $ (47,427) |
Net loss per share attributable to common stockholders, basic and diluted | $ (0.31) | $ (0.90) | $ (0.62) | $ (2.10) |
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 129,549 | 23,338 | 126,277 | 22,453 |
Subscription [Member] | ||||
Revenue: | ||||
Total revenue | $ 73,598 | $ 49,618 | $ 138,683 | $ 94,539 |
Cost of revenue: | ||||
Total cost of revenue | 12,207 | 8,788 | 23,298 | 16,574 |
Professional services [Member] | ||||
Revenue: | ||||
Total revenue | 10,942 | 8,210 | 21,687 | 14,839 |
Cost of revenue: | ||||
Total cost of revenue | $ 10,300 | $ 7,171 | $ 20,786 | $ 13,417 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] | Convertible Preferred Stock [Member] |
Beginning balance at Jan. 31, 2018 | $ 111,639 | $ 3 | $ 325,831 | $ (1,982) | $ (212,220) | $ 7 |
Beginning balance, shares at Jan. 31, 2018 | 29,947,000 | 73,610,000 | ||||
Conversion of Series B convertible preferred stock, shares | 4,000 | (4,000) | ||||
Stock-based compensation | 4,952 | 4,952 | ||||
Repayment of promissory notes, net of early exercises | 236 | 236 | ||||
Exercise of stock options, net of repurchases and early exercises | 2,876 | 2,876 | ||||
Exercise of stock options, net of repurchases and early exercises, shares | 1,410,000 | |||||
Net loss | (47,229) | (47,229) | ||||
Foreign currency translation adjustments | (198) | (198) | ||||
Ending balance at Jul. 31, 2018 | 72,276 | $ 3 | 333,895 | (2,180) | (259,449) | $ 7 |
Ending balance, shares at Jul. 31, 2018 | 31,361,000 | 73,606,000 | ||||
Beginning balance at Apr. 30, 2018 | 88,668 | $ 3 | 329,113 | (2,054) | (238,401) | $ 7 |
Beginning balance, shares at Apr. 30, 2018 | 30,531,000 | 73,606,000 | ||||
Stock-based compensation | 2,973 | 2,973 | ||||
Repayment of promissory notes, net of early exercises | 14 | 14 | ||||
Exercise of stock options, net of repurchases and early exercises | 1,795 | 1,795 | ||||
Exercise of stock options, net of repurchases and early exercises, shares | 830,000 | |||||
Net loss | (21,048) | (21,048) | ||||
Foreign currency translation adjustments | (126) | (126) | ||||
Ending balance at Jul. 31, 2018 | 72,276 | $ 3 | 333,895 | (2,180) | (259,449) | $ 7 |
Ending balance, shares at Jul. 31, 2018 | 31,361,000 | 73,606,000 | ||||
Beginning balance at Jan. 31, 2019 | 307,478 | $ 12 | 653,738 | (3,036) | (343,236) | |
Beginning balance, shares at Jan. 31, 2019 | 126,246,000 | |||||
Stock-based compensation | 36,995 | 36,995 | ||||
Repayment of promissory notes, net of early exercises | 11,454 | 11,454 | ||||
Exercise of stock options, net of repurchases and early exercises | 14,826 | $ 1 | 14,825 | |||
Exercise of stock options, net of repurchases and early exercises, shares | 3,375,000 | |||||
Vesting and settlement of restricted stock units, shares | 1,381,000 | |||||
Issuance of common stock under employee stock purchase plan | 9,088 | 9,088 | ||||
Issuance of common stock under employee stock purchase plan, shares | 629,000 | |||||
Net loss | (77,833) | (77,833) | ||||
Foreign currency translation adjustments | 2,029 | 2,029 | ||||
Ending balance at Jul. 31, 2019 | 304,037 | $ 13 | 726,100 | (1,007) | (421,069) | |
Ending balance, shares at Jul. 31, 2019 | 131,631,000 | |||||
Beginning balance at Apr. 30, 2019 | 297,862 | $ 12 | 681,579 | (3,302) | (380,427) | |
Beginning balance, shares at Apr. 30, 2019 | 127,537,000 | |||||
Stock-based compensation | 20,371 | 20,371 | ||||
Repayment of promissory notes, net of early exercises | 3,297 | 3,297 | ||||
Exercise of stock options, net of repurchases and early exercises | 11,766 | $ 1 | 11,765 | |||
Exercise of stock options, net of repurchases and early exercises, shares | 2,653,000 | |||||
Vesting and settlement of restricted stock units, shares | 812,000 | |||||
Issuance of common stock under employee stock purchase plan | 9,088 | 9,088 | ||||
Issuance of common stock under employee stock purchase plan, shares | 629,000 | |||||
Net loss | (40,642) | (40,642) | ||||
Foreign currency translation adjustments | 2,295 | 2,295 | ||||
Ending balance at Jul. 31, 2019 | $ 304,037 | $ 13 | $ 726,100 | $ (1,007) | $ (421,069) | |
Ending balance, shares at Jul. 31, 2019 | 131,631,000 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2019 | Jul. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (77,833) | $ (47,229) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 9,073 | 5,437 |
Amortization of deferred commissions | 8,761 | 5,166 |
Stock-based compensation | 36,421 | 4,900 |
Amortization of operating lease right-of-use assets and accretion of operating lease liabilities | 4,987 | |
Loss on disposal of property and equipment | 128 | 457 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 10,213 | 10,461 |
Prepaid expenses and other current assets | (4,093) | 1,924 |
Other noncurrent assets | (266) | (2,777) |
Deferred commissions | (21,587) | (12,634) |
Accounts payable and accrued expenses | 23,364 | 8,423 |
Deferred revenue | 20,529 | 9,388 |
Payments for operating lease liabilities | (4,790) | |
Other noncurrent liabilities | (1,712) | 789 |
Net cash provided by (used in) operating activities | 3,195 | (15,695) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (1,603) | (12,419) |
Capitalized internal-use software | (5,051) | (3,379) |
Net cash used in investing activities | (6,654) | (15,798) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from exercise of stock options | 14,739 | 2,876 |
Proceeds from repayment of promissory notes | 12,148 | 236 |
Proceeds from employee stock purchase plan | 9,088 | |
Principal payments on finance lease obligations | (2,382) | (146) |
Net cash provided by financing activities | 33,593 | 2,966 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (1,042) | (1,541) |
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | 29,092 | (30,068) |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH - Beginning of period | 326,863 | 117,026 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH - End of period | 355,955 | 86,958 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Cash paid for interest | 443 | 6 |
Cash paid for income taxes | 652 | 221 |
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
Increase in purchases of property and equipment included in liabilities | 1,126 | 2,432 |
Finance leases for property and equipment | $ 2,568 | $ 8,228 |
Summary of Business and Signifi
Summary of Business and Significant Accounting Policies | 6 Months Ended |
Jul. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Business and Significant Accounting Policies | (1) Summary of Business and Significant Accounting Policies Description of Business Anaplan, Inc. (the Company or Anaplan) was incorporated in Delaware on July 9, 2009 and is headquartered in San Francisco, California, with offices in several locations including Minneapolis, New York, the United Kingdom (U.K.), France, Japan, Australia, India, and Singapore. The Company provides a cloud-based connected planning platform that helps connect organizations and people to make better and faster decisions. The Company delivers its application over the Internet as a subscription service using a software-as-a-service (SaaS) model. The Company also offers professional services related to implementing and supporting its application. Fiscal Year The Company’s fiscal year ends on January 31. References to fiscal 2020, for example, refer to the fiscal year ending January 31, 2020. Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting and include the accounts of the Company and its wholly owned subsidiaries (collectively, the Company). All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated balance sheet as of January 31, 2019 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of comprehensive loss, statements of stockholders’ equity, and statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Form 10-K filed with the SEC on March 29, 2019. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, the determination of revenue recognition, the fair value of stock awards issued, the determination of the period of benefit for deferred commissions, the determination of the incremental borrowing rate used for operating lease liabilities, Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 1 of the notes to the consolidated financial statements included in Leases The Company adopted Accounting Standards Codification Topic 842 (ASC 842), Leases The cumulative effect of the changes made to the Company’s condensed consolidated balance sheet as of February 1, 2019 were as follows : Classification Balance at January 31, 2019 ASC 842 Adjustments Balance at February 1, 2019 (In thousands) Assets Finance lease assets Property and equipment - net $ 14,227 $ — $ 14,227 Operating lease assets Operating lease right-of-use assets — 38,175 38,175 Liabilities Current: Finance lease liabilities Accrued expenses $ 4,511 $ — $ 4,511 Operating lease liabilities Operating lease liabilities, current portion — 8,103 8,103 Non-current: Finance lease liabilities Other noncurrent liabilities $ 8,088 $ — $ 8,088 Operating lease liabilities Operating lease liabilities, net of current portion — 33,164 33,164 The ROU assets are presented net of deferred rent liabilities of $3.1 million as of February 1, 2019 in the accompanying condensed consolidated balance sheet. The adoption had no impact on cash flows other than a change within operating cash flows. The Company determines if an arrangement is a lease at inception. The company’s lease agreements do not contain any material variable lease payments, any material options to extend or terminate leases, any material residual value guarantees, or any material restrictions or covenants. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized based on the present value of lease payments over the lease term at the commencement date. In determining the present value of lease payments, the Company uses its country specific incremental borrowing rate based on the information available at the lease commencement date, including the lease term, for operating leases. Upon adoption, the operating lease ROU asset was valued at the amount of the lease liabilities adjusted for the remaining balance of unamortized lease incentives, prepaid rent, and deferred rent as of January 31, 2019. Upon adoption, finance lease ROU assets and liabilities are recognized based on the carrying amount of the lease assets and lease liabilities. The finance lease ROU asset also includes any remaining unamortized initial direct costs. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13 “ Financial Instruments – Credit Losses (Topic 326): Measurement of credit Losses on Financial Instruments Codification Improvements to Topic 326, Financial Instruments – Credit Losses Topic 842, Leases Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief Recently Adopted Accounting Pronouncements In February 2016 and July 2018, the FASB issued ASU 2016-02 “ Leases” Codification Improvements to Topic 842, Leases Leases (Topic 842): Targeted Improvements In August 2018, the FASB issued ASU 2018-15 “ Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract The Company early adopted the guidance starting February 1, 2019 using a prospective transition approach. The adoption of the new standard had no material impact on the Company’s condensed consolidated financial statements and disclosures . |
Consolidated Balance Sheet Comp
Consolidated Balance Sheet Components | 6 Months Ended |
Jul. 31, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Consolidated Balance Sheet Components | (2) Consolidated Balance Sheet Components Property and Equipment, net Property and equipment consisted of the following: As of July 31, 2019 January 31, 2019 (In thousands) Computer and office equipment $ 41,897 $ 37,990 Leasehold improvements 12,283 11,823 Internal-use software 19,162 17,810 Construction in progress 4,850 1,041 Property and equipment, gross 78,192 68,664 Less: accumulated depreciation (33,510 ) (25,324 ) Property and equipment, net $ 44,682 $ 43,340 Depreciation expense was $4.7 million and $9.0 million for the three and six months ended July 31, 2019, respectively, and $2.9 million and $5.3 million for the three and six months ended July 31, 2018, respectively. The Company capitalized $3.3 million and $5.8 million in internal-use software in the three and six months ended July 31, 2019, respectively, of which $0.4 million and $0.7 million was stock-based compensation expense for each respective period. The Company capitalized $1.8 million and $3.5 million in internal-use software in the three and six months ended July 31, 2018, respectively, of which less than $0.1 million and $0.1 million was stock-based compensation expense for each respective period. Amortization of the capitalized internal-use software was $1.3 million and $2.6 million in the three and six months ended July 31, 2019, respectively, and $0.9 million and $1.7 million for the three and six months ended July 31, 2018, respectively. Accrued Expenses Accrued expenses consisted of the following: As of July 31, 2019 January 31, 2019 (In thousands) Vendor accruals $ 9,036 $ 6,237 Accrued commission 9,567 10,000 Accrued bonuses 11,839 11,759 Accrued other payroll liabilities 26,805 10,112 Current portion of finance lease obligations 5,214 4,512 Accrued other 11,142 9,950 Accrued expenses $ 73,603 $ 52,570 |
Bank Borrowing
Bank Borrowing | 6 Months Ended |
Jul. 31, 2019 | |
Debt Disclosure [Abstract] | |
Bank Borrowing | (3) Bank Borrowing In April 2018, the Company entered into a syndicated loan agreement with Wells Fargo to provide a secured revolving credit facility that allows the Company to borrow up to $40.0 million, subject to an accounts receivable borrowing base, for general corporate purposes through April 2020. Any advances drawn on the credit facility will incur interest at a rate equal to (i) the highest of (A) the prime rate, (B) the federal funds rate plus 0.5%, and (C) the one-month LIBOR plus 1% less (ii) 0.5%. Interest is payable monthly in arrears with the principal and any accrued and unpaid interest due on April 30, 2020. This syndicated loan agreement was subsequently amended in September 2018. As of July 31, 2019 and January 31, 2019, the Company had not drawn down any amounts under this agreement. The Company was in compliance with the financial covenants contained in the agreement as of July 31, 2019 and January 31, 2019. |
Leases
Leases | 6 Months Ended |
Jul. 31, 2019 | |
Leases [Abstract] | |
Leases | (4) Leases The Company leases certain facilities under operating leases that expire from fiscal 2020 to 2028. Starting in fiscal 2019, the Company entered into finance leases to finance equipment. The components of lease expense were as follows: Three Months Ended Six Months Ended July 31, 2019 July 31, 2019 (In thousands) Operating lease costs $ 2,545 $ 4,987 Finance lease costs Amortization of ROU assets $ 1,414 $ 2,534 Interest on lease liabilities 244 443 Total finance lease costs $ 1,658 $ 2,977 Supplemental cash flow information related to leases is as follows: Three Months Ended Six Months Ended July 31, 2019 July 31, 2019 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 2,429 $ 4,790 Financing cash outflows from finance leases 1,294 2,382 Supplemental balance sheet information related to leases is as follows: As of July 31, 2019 (In thousands) Operating leases: Operating lease ROU assets $ 37,726 Operating lease liabilities, current portion $ 7,980 Operating lease liabilities, net of current portion 33,044 Total operating lease liabilities $ 41,024 Finance leases: Property and equipment, gross $ 16,650 Less: accumulated depreciation (4,144 ) Property and equipment, net $ 12,506 Accrued expenses $ 5,214 Other noncurrent liabilities 7,180 Total finance lease liabilities $ 12,394 Weighted-average lease terms and discount rates are as follows: As of July 31, 2019 Operating Leases Finance Leases Weighted-average remaining lease terms 6.1 years 2.3 years Weighted-average discount rates 5.7% 6.4% Future minimum lease payments under operating leases and finance leases as of July 31, 2019 are as follows: As of July 31, 2019 Operating Leases Finance Leases (In thousands) Years ending January 31, 2020 (remaining 6 months) $ 5,602 $ 2,900 2021 8,776 6,000 2022 7,201 4,228 2023 7,398 403 2024 7,518 — 2025 and thereafter 16,502 — Total lease payments 52,997 13,531 Less: amount representing interest (7,982 ) (1,137 ) Less: leases executed but not yet commenced (3,687 ) — Less: leases less than 12 months (304 ) — Total lease liabilities $ 41,024 $ 12,394 The Company enters into commitments to lease computer and office equipment for which the timing of the lease payments is not determined until the date of acceptance. As of July 31, 2019, the amounts related to these leases were approximately $2.0 million, which are to be paid over three years after the date of acceptance. Future minimum lease payments under operating leases and finance leases as of January 31, 2019, prior to the Company’s adoption of the new lease standard, were as follows: As of January 31, 2019 Operating Leases Finance Leases (In thousands) Years ending January 31, 2020 $ 10,994 $ 5,438 2021 8,534 5,366 2022 7,065 3,369 2023 7,256 386 2024 7,342 — 2025 and thereafter 16,427 — Total future minimum payments $ 57,618 $ 14,559 Under ASC 840, the previous lease standard, total rent expense under operating leases during the three and six months ended July 31, 2018 was $2.7 million and $5.6 million, respectively. |
Employee Stock Plans
Employee Stock Plans | 6 Months Ended |
Jul. 31, 2019 | |
Text Block [Abstract] | |
Employee Stock Plans | (5) Employee Stock Plans As of July 31, 2019, the Company was authorized to issue 1,750,000,000 shares of common stock. Shares were reserved for future issuance as follows: As of July 31, 2019 January 31, 2019 (In thousands) Outstanding stock options 10,960 14,986 Outstanding restricted stock units 11,504 10,894 Outstanding stock purchase rights 219 4,776 Shares available for future issuances under the 2018 Stock Plan 18,387 13,411 Shares available for future issuances under the 2018 ESPP 3,334 2,700 Total 44,404 46,767 Stock-Based Compensation The stock-based compensation expense, net of estimated forfeitures, by line item in the accompanying condensed consolidated statements of comprehensive loss is summarized as follows: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (In thousands) Cost of subscription revenue $ 637 $ 75 $ 1,128 $ 138 Cost of professional services revenue 546 79 1,038 118 Research and development 2,494 277 4,330 536 Sales and marketing 8,184 1,151 14,801 2,036 General and administrative 8,258 1,358 15,124 2,072 Total stock-based compensation expense $ 20,119 $ 2,940 $ 36,421 $ 4,900 The Company’s estimated forfeiture rate is based on accumulated historical forfeiture data. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jul. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | (6) Fair Value Measurements The Company did not hold any assets or liabilities that are measured at fair value on a recurring basis as of July 31, 2019 or January 31, 2019 and there were no transfers into or out of Level 1, Level 2, or Level 3 during the three and six months ended July 31, 2019 or 2018. |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Jul. 31, 2019 | |
Revenue From Contract With Customer [Abstract] | |
Revenue Recognition | (7) Revenue Recognition The Company adopted Accounting Standards Codification Topic 606, Revenue from Contracts with Customers The Company derives revenue primarily from sales of subscription services and, to a lesser degree, from professional services. Revenue is recognized when a customer obtains access to the platform and receives the related professional services. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to receive in exchange for these services. Disaggregation of Revenue The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the Company’s cloud-based application: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 Amount Percentage of Revenue Amount Percentage of Revenue Amount Percentage of Revenue Amount Percentage of Revenue (In thousands, except percentage data) Americas $ 50,643 60 % $ 34,053 59 % $ 95,529 60 % $ 64,209 59 % EMEA 26,534 31 18,860 33 50,549 31 36,176 33 APAC 7,363 9 4,915 8 14,292 9 8,993 8 Total $ 84,540 100 % $ 57,828 100 % $ 160,370 100 % $ 109,378 100 % The United States and the U.K. Contract Balances Contract assets represent revenue recognized for contracts that have not yet been invoiced to customers, typically for multi-year arrangements. Total contract assets were $0.5 million and $0.4 million as of July 31, 2019 and January 31, 2019, respectively, which were included within prepaid expenses and other current assets and other noncurrent assets on the condensed consolidated balance sheets. Contract liabilities consist of deferred revenue. Revenue is deferred when the Company has the right to invoice in advance of performance under a contract. The current portion of deferred revenue balances are recognized over the following 12-month period. The amount of revenue recognized in the three and six months ended July 31, 2019 that was included in deferred revenue at the beginning of each period was $62.2 million and $97.5 million, respectively. The amount of revenue recognized in the three and six months ended July 31, 2018 that was included in deferred revenue at the beginning of each period was $41.9 million and $67.1 million, respectively. Remaining Performance Obligation As of July 31, 2019, the aggregate amount of the transaction price allocated to remaining performance obligations was $516.2 million, which consists of both billed consideration in the amount of $167.0 million and unbilled consideration in the amount of $349.2 million that the Company expects to recognize as revenue. The Company expects to recognize 29% of this amount as revenue in the remainder of fiscal year ending January 31, 2020 and 94% between August 1, 2019 and January 31, 2022. As of January 31, 2019, the aggregate amount of the transaction price allocated to remaining performance obligations was $440.0 million, which consists of both billed consideration in the amount of $150.8 million and unbilled consideration in the amount of $289.2 million that the Company expects to recognize as subscription revenue. The Company expects to recognize 53% of this amount as revenue in the fiscal year ending January 31, 2020 and 98% over the three years ending January 31, 2022. The Company applied a practical expedient allowing it not to disclose the amount of the transaction price allocated to the remaining performance obligations for contracts with an original expected duration of one year or less. |
Income Taxes
Income Taxes | 6 Months Ended |
Jul. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | (8) Income Taxes The Company computed its interim provision using the estimated annual effective tax rate. The Company’s income tax expense was $1.3 million and $2.4 million during the three and six months ended July 31, 2019, respectively, and $0.9 million and $1.5 million during the three and six months ended July 31, 2018, respectively. |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Common Stockholders | 6 Months Ended |
Jul. 31, 2019 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share Attributable to Common Stockholders | (9) Net Loss Per Share Attributable to Common Stockholders The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (In thousands, except per share data) Numerator: Net loss $ (40,642 ) $ (21,048 ) $ (77,833 ) $ (47,229 ) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 129,549 23,338 126,277 22,453 Net loss per share attributable to common stockholders, basic and diluted $ (0.31 ) $ (0.90 ) $ (0.62 ) $ (2.10 ) The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: As of July 31, 2019 2018 (In thousands) Convertible preferred stock — 73,606 Stock options 10,960 14,876 Stock repurchase rights 219 7,581 Restricted stock units 11,504 7,411 Unvested shares subject to repurchase 9 — Convertible preferred stock warrants — 10 Common stock warrants — 14 Total 22,692 103,498 |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jul. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | (10) Subsequent Events On August 26, 2019, the Company entered into a definitive share purchase agreement for the acquisition of Mintigo, Inc., (“Mintigo”) an Israel-based artificial intelligence/machine learning (“AI/ML”) company. Mintigo’s AI/ML driven customer engagement platform provides predictive analytics for marketing and sales. The transaction is subject to customary closing conditions but is expected to close in the fourth fiscal quarter ending January 31, 2020. |
Summary of Business and Signi_2
Summary of Business and Significant Accounting Policies (Policies) | 6 Months Ended |
Jul. 31, 2019 | |
Accounting Policies [Abstract] | |
Description of Business | Description of Business Anaplan, Inc. (the Company or Anaplan) was incorporated in Delaware on July 9, 2009 and is headquartered in San Francisco, California, with offices in several locations including Minneapolis, New York, the United Kingdom (U.K.), France, Japan, Australia, India, and Singapore. The Company provides a cloud-based connected planning platform that helps connect organizations and people to make better and faster decisions. The Company delivers its application over the Internet as a subscription service using a software-as-a-service (SaaS) model. The Company also offers professional services related to implementing and supporting its application. |
Fiscal Year | Fiscal Year The Company’s fiscal year ends on January 31. References to fiscal 2020, for example, refer to the fiscal year ending January 31, 2020. |
Principles of Consolidation | Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting and include the accounts of the Company and its wholly owned subsidiaries (collectively, the Company). All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated balance sheet as of January 31, 2019 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of comprehensive loss, statements of stockholders’ equity, and statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Form 10-K filed with the SEC on March 29, 2019. |
Use of Estimates | Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, the determination of revenue recognition, the fair value of stock awards issued, the determination of the period of benefit for deferred commissions, the determination of the incremental borrowing rate used for operating lease liabilities, |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 1 of the notes to the consolidated financial statements included in |
Leases | Leases The Company adopted Accounting Standards Codification Topic 842 (ASC 842), Leases The cumulative effect of the changes made to the Company’s condensed consolidated balance sheet as of February 1, 2019 were as follows : Classification Balance at January 31, 2019 ASC 842 Adjustments Balance at February 1, 2019 (In thousands) Assets Finance lease assets Property and equipment - net $ 14,227 $ — $ 14,227 Operating lease assets Operating lease right-of-use assets — 38,175 38,175 Liabilities Current: Finance lease liabilities Accrued expenses $ 4,511 $ — $ 4,511 Operating lease liabilities Operating lease liabilities, current portion — 8,103 8,103 Non-current: Finance lease liabilities Other noncurrent liabilities $ 8,088 $ — $ 8,088 Operating lease liabilities Operating lease liabilities, net of current portion — 33,164 33,164 The ROU assets are presented net of deferred rent liabilities of $3.1 million as of February 1, 2019 in the accompanying condensed consolidated balance sheet. The adoption had no impact on cash flows other than a change within operating cash flows. The Company determines if an arrangement is a lease at inception. The company’s lease agreements do not contain any material variable lease payments, any material options to extend or terminate leases, any material residual value guarantees, or any material restrictions or covenants. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized based on the present value of lease payments over the lease term at the commencement date. In determining the present value of lease payments, the Company uses its country specific incremental borrowing rate based on the information available at the lease commencement date, including the lease term, for operating leases. Upon adoption, the operating lease ROU asset was valued at the amount of the lease liabilities adjusted for the remaining balance of unamortized lease incentives, prepaid rent, and deferred rent as of January 31, 2019. Upon adoption, finance lease ROU assets and liabilities are recognized based on the carrying amount of the lease assets and lease liabilities. The finance lease ROU asset also includes any remaining unamortized initial direct costs. Lease expense for lease payments is recognized on a straight-line basis over the lease term. |
Recently Issued/Adopted Accounting Pronouncements | Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13 “ Financial Instruments – Credit Losses (Topic 326): Measurement of credit Losses on Financial Instruments Codification Improvements to Topic 326, Financial Instruments – Credit Losses Topic 842, Leases Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief Recently Adopted Accounting Pronouncements In February 2016 and July 2018, the FASB issued ASU 2016-02 “ Leases” Codification Improvements to Topic 842, Leases Leases (Topic 842): Targeted Improvements In August 2018, the FASB issued ASU 2018-15 “ Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract The Company early adopted the guidance starting February 1, 2019 using a prospective transition approach. The adoption of the new standard had no material impact on the Company’s condensed consolidated financial statements and disclosures . |
Summary of Business and Signi_3
Summary of Business and Significant Accounting Policies (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Accounting Policies [Abstract] | |
Schedule of adoption of Topic 842 did not have a significant impact on the company's condensed consolidated financial statements | The cumulative effect of the changes made to the Company’s condensed consolidated balance sheet as of February 1, 2019 were as follows : Classification Balance at January 31, 2019 ASC 842 Adjustments Balance at February 1, 2019 (In thousands) Assets Finance lease assets Property and equipment - net $ 14,227 $ — $ 14,227 Operating lease assets Operating lease right-of-use assets — 38,175 38,175 Liabilities Current: Finance lease liabilities Accrued expenses $ 4,511 $ — $ 4,511 Operating lease liabilities Operating lease liabilities, current portion — 8,103 8,103 Non-current: Finance lease liabilities Other noncurrent liabilities $ 8,088 $ — $ 8,088 Operating lease liabilities Operating lease liabilities, net of current portion — 33,164 33,164 |
Consolidated Balance Sheet Co_2
Consolidated Balance Sheet Components (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Schedule of Property and Equipment, Net | Property and equipment consisted of the following: As of July 31, 2019 January 31, 2019 (In thousands) Computer and office equipment $ 41,897 $ 37,990 Leasehold improvements 12,283 11,823 Internal-use software 19,162 17,810 Construction in progress 4,850 1,041 Property and equipment, gross 78,192 68,664 Less: accumulated depreciation (33,510 ) (25,324 ) Property and equipment, net $ 44,682 $ 43,340 |
Schedule of Accrued Expenses | Accrued expenses consisted of the following: As of July 31, 2019 January 31, 2019 (In thousands) Vendor accruals $ 9,036 $ 6,237 Accrued commission 9,567 10,000 Accrued bonuses 11,839 11,759 Accrued other payroll liabilities 26,805 10,112 Current portion of finance lease obligations 5,214 4,512 Accrued other 11,142 9,950 Accrued expenses $ 73,603 $ 52,570 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Leases [Abstract] | |
Schedule of Lease Cost | The components of lease expense were as follows: Three Months Ended Six Months Ended July 31, 2019 July 31, 2019 (In thousands) Operating lease costs $ 2,545 $ 4,987 Finance lease costs Amortization of ROU assets $ 1,414 $ 2,534 Interest on lease liabilities 244 443 Total finance lease costs $ 1,658 $ 2,977 |
Schedule of Supplemental Cash Flow Information Related To Leases | Supplemental cash flow information related to leases is as follows: Three Months Ended Six Months Ended July 31, 2019 July 31, 2019 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 2,429 $ 4,790 Financing cash outflows from finance leases 1,294 2,382 |
Schedule of Supplemental Balance Sheet Information Related To Leases | Supplemental balance sheet information related to leases is as follows: As of July 31, 2019 (In thousands) Operating leases: Operating lease ROU assets $ 37,726 Operating lease liabilities, current portion $ 7,980 Operating lease liabilities, net of current portion 33,044 Total operating lease liabilities $ 41,024 Finance leases: Property and equipment, gross $ 16,650 Less: accumulated depreciation (4,144 ) Property and equipment, net $ 12,506 Accrued expenses $ 5,214 Other noncurrent liabilities 7,180 Total finance lease liabilities $ 12,394 |
Schedule of Weighted-Average Lease Terms and Discount Rates | Weighted-average lease terms and discount rates are as follows: As of July 31, 2019 Operating Leases Finance Leases Weighted-average remaining lease terms 6.1 years 2.3 years Weighted-average discount rates 5.7% 6.4% |
Schedule of Future Minimum Lease Payments Under Operating Leases and Finance Leases | Future minimum lease payments under operating leases and finance leases as of July 31, 2019 are as follows: As of July 31, 2019 Operating Leases Finance Leases (In thousands) Years ending January 31, 2020 (remaining 6 months) $ 5,602 $ 2,900 2021 8,776 6,000 2022 7,201 4,228 2023 7,398 403 2024 7,518 — 2025 and thereafter 16,502 — Total lease payments 52,997 13,531 Less: amount representing interest (7,982 ) (1,137 ) Less: leases executed but not yet commenced (3,687 ) — Less: leases less than 12 months (304 ) — Total lease liabilities $ 41,024 $ 12,394 Future minimum lease payments under operating leases and finance leases as of January 31, 2019, prior to the Company’s adoption of the new lease standard, were as follows: As of January 31, 2019 Operating Leases Finance Leases (In thousands) Years ending January 31, 2020 $ 10,994 $ 5,438 2021 8,534 5,366 2022 7,065 3,369 2023 7,256 386 2024 7,342 — 2025 and thereafter 16,427 — Total future minimum payments $ 57,618 $ 14,559 |
Employee Stock Plans (Tables)
Employee Stock Plans (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Text Block [Abstract] | |
Schedule of Shares Reserved for Future Issuance | As of July 31, 2019, the Company was authorized to issue 1,750,000,000 shares of common stock. Shares were reserved for future issuance as follows: As of July 31, 2019 January 31, 2019 (In thousands) Outstanding stock options 10,960 14,986 Outstanding restricted stock units 11,504 10,894 Outstanding stock purchase rights 219 4,776 Shares available for future issuances under the 2018 Stock Plan 18,387 13,411 Shares available for future issuances under the 2018 ESPP 3,334 2,700 Total 44,404 46,767 |
Summary of Stock-Based Compensation Expense, Net of Estimated Forfeitures | The stock-based compensation expense, net of estimated forfeitures, by line item in the accompanying condensed consolidated statements of comprehensive loss is summarized as follows: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (In thousands) Cost of subscription revenue $ 637 $ 75 $ 1,128 $ 138 Cost of professional services revenue 546 79 1,038 118 Research and development 2,494 277 4,330 536 Sales and marketing 8,184 1,151 14,801 2,036 General and administrative 8,258 1,358 15,124 2,072 Total stock-based compensation expense $ 20,119 $ 2,940 $ 36,421 $ 4,900 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Revenue From Contract With Customer [Abstract] | |
Disaggregation of Revenue | The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the Company’s cloud-based application: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 Amount Percentage of Revenue Amount Percentage of Revenue Amount Percentage of Revenue Amount Percentage of Revenue (In thousands, except percentage data) Americas $ 50,643 60 % $ 34,053 59 % $ 95,529 60 % $ 64,209 59 % EMEA 26,534 31 18,860 33 50,549 31 36,176 33 APAC 7,363 9 4,915 8 14,292 9 8,993 8 Total $ 84,540 100 % $ 57,828 100 % $ 160,370 100 % $ 109,378 100 % |
Net Loss Per Share Attributab_2
Net Loss Per Share Attributable to Common Stockholders (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Computation of Basic and Diluted Net Loss Per Share | The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (In thousands, except per share data) Numerator: Net loss $ (40,642 ) $ (21,048 ) $ (77,833 ) $ (47,229 ) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 129,549 23,338 126,277 22,453 Net loss per share attributable to common stockholders, basic and diluted $ (0.31 ) $ (0.90 ) $ (0.62 ) $ (2.10 ) |
Summary of potential shares of common stock that were excluded from the computation of diluted net loss per share | The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: As of July 31, 2019 2018 (In thousands) Convertible preferred stock — 73,606 Stock options 10,960 14,876 Stock repurchase rights 219 7,581 Restricted stock units 11,504 7,411 Unvested shares subject to repurchase 9 — Convertible preferred stock warrants — 10 Common stock warrants — 14 Total 22,692 103,498 |
Summary of Business and Signi_4
Summary of Business and Significant Accounting Policies - Adoption of Topic 842 did not have a significant impact on the company's condensed consolidated financial statements (Detail) - USD ($) $ in Thousands | Jul. 31, 2019 | Feb. 01, 2019 | Jan. 31, 2019 |
Assets | |||
Operating lease assets | $ 37,726 | ||
Current: | |||
Operating lease liabilities | 7,980 | ||
Non-current: | |||
Operating lease liabilities | 33,044 | ||
Accrued Expenses [Member] | |||
Current: | |||
Finance lease liabilities | 5,214 | ||
Other Noncurrent Liabilities [Member] | |||
Non-current: | |||
Finance lease liabilities | $ 7,180 | ||
Accounting Standards Update 2016-02 [Member] | |||
Assets | |||
Operating lease assets | $ 38,175 | ||
Current: | |||
Operating lease liabilities | 8,103 | ||
Non-current: | |||
Operating lease liabilities | 33,164 | ||
Accounting Standards Update 2016-02 [Member] | Accrued Expenses [Member] | |||
Current: | |||
Finance lease liabilities | 4,511 | ||
Accounting Standards Update 2016-02 [Member] | Other Noncurrent Liabilities [Member] | |||
Non-current: | |||
Finance lease liabilities | 8,088 | ||
Accounting Standards Update 2016-02 [Member] | Property and Equipment [Member] | |||
Assets | |||
Finance lease assets | 14,227 | ||
Previously Reported [Member] | Accrued Expenses [Member] | |||
Current: | |||
Finance lease liabilities | $ 4,511 | ||
Previously Reported [Member] | Other Noncurrent Liabilities [Member] | |||
Non-current: | |||
Finance lease liabilities | 8,088 | ||
Previously Reported [Member] | Property and Equipment [Member] | |||
Assets | |||
Finance lease assets | $ 14,227 | ||
Restatement Adjustment [Member] | |||
Assets | |||
Operating lease assets | 38,175 | ||
Current: | |||
Operating lease liabilities | 8,103 | ||
Non-current: | |||
Operating lease liabilities | $ 33,164 |
Summary of Business and Signi_5
Summary of Business and Significant Accounting Policies - Additional Information (Detail) $ in Millions | Feb. 01, 2019USD ($) |
Accounting Policies [Abstract] | |
Deferred rent | $ 3.1 |
Consolidated Balance Sheet Co_3
Consolidated Balance Sheet Components - Schedule of Property and Equipment Net (Detail) - USD ($) $ in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 78,192 | $ 68,664 |
Less: accumulated depreciation | (33,510) | (25,324) |
Property and equipment, net | 44,682 | 43,340 |
Computer and office equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 41,897 | 37,990 |
Leasehold improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 12,283 | 11,823 |
Internal-use software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 19,162 | 17,810 |
Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 4,850 | $ 1,041 |
Consolidated Balance Sheet Co_4
Consolidated Balance Sheet Components - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Depreciation expense | $ 4,700,000 | $ 2,900,000 | $ 9,000,000 | $ 5,300,000 |
Internal use software capitalized | 3,300,000 | 1,800,000 | 5,800,000 | 3,500,000 |
Share based compensation expense | 20,119,000 | 2,940,000 | 36,421,000 | 4,900,000 |
Software and Software Development Costs [Member] | ||||
Share based compensation expense | 400,000 | 700,000 | 100,000 | |
Amortization of intangible assets | $ 1,300,000 | 900,000 | $ 2,600,000 | $ 1,700,000 |
Maximum [Member] | Software and Software Development Costs [Member] | ||||
Share based compensation expense | $ 100,000 |
Consolidated Balance Sheet Co_5
Consolidated Balance Sheet Components - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Accrued Liabilities Current [Abstract] | ||
Vendor accruals | $ 9,036 | $ 6,237 |
Accrued commission | 9,567 | 10,000 |
Accrued bonuses | 11,839 | 11,759 |
Accrued other payroll liabilities | 26,805 | 10,112 |
Current portion of finance lease obligations | 5,214 | 4,512 |
Accrued other | 11,142 | 9,950 |
Accrued expenses | $ 73,603 | $ 52,570 |
Bank Borrowing - Additional Inf
Bank Borrowing - Additional Information (Detail) - Wells Fargo [Member] - Revolving Credit Facility [Member] - USD ($) | 1 Months Ended | 6 Months Ended | |
Apr. 30, 2018 | Jul. 31, 2019 | Jan. 31, 2019 | |
Debt Instrument [Line Items] | |||
Credit facility maximum borrowing capacity | $ 40,000,000 | ||
Debt, interest rate description | Any advances drawn on the credit facility will incur interest at a rate equal to (i) the highest of (A) the prime rate, (B) the federal funds rate plus 0.5%, and (C) the one-month LIBOR plus 1% less (ii) 0.5%. Interest is payable monthly in arrears with the principal and any accrued and unpaid interest due on April 30, 2020. | ||
Credit facility current borrowing capacity | $ 0 | $ 0 | |
Federal Funds Effective Swap Rate [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 0.50% | ||
One-month LIBOR [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 1.00% |
Leases - Schedule of Lease Cost
Leases - Schedule of Lease Cost (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jul. 31, 2019 | Jul. 31, 2019 | |
Leases [Abstract] | ||
Operating lease costs | $ 2,545 | $ 4,987 |
Finance lease costs | ||
Amortization of ROU assets | 1,414 | 2,534 |
Interest on lease liabilities | 244 | 443 |
Total finance lease costs | $ 1,658 | $ 2,977 |
Leases - Schedule of Supplement
Leases - Schedule of Supplemental Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jul. 31, 2019 | Jul. 31, 2019 | |
Cash paid for amounts included in the measurement of lease liabilities: | ||
Operating cash outflows from operating leases | $ 2,429 | $ 4,790 |
Financing cash outflows from finance leases | $ 1,294 | $ 2,382 |
Leases - Schedule of Suppleme_2
Leases - Schedule of Supplemental Balance Sheet Information Related To Leases (Detail) $ in Thousands | Jul. 31, 2019USD ($) |
Operating leases: | |
Operating lease ROU assets | $ 37,726 |
Operating lease liabilities, current portion | 7,980 |
Operating lease liabilities, net of current portion | 33,044 |
Total operating lease liabilities | 41,024 |
Finance leases: | |
Property and equipment, gross | 16,650 |
Less: accumulated depreciation | (4,144) |
Property and equipment, net | 12,506 |
Total finance lease liabilities | 12,394 |
Accrued Expenses [Member] | |
Finance leases: | |
Accrued expenses | 5,214 |
Other Noncurrent Liabilities [Member] | |
Finance leases: | |
Other noncurrent liabilities | $ 7,180 |
Leases - Schedule of Weighted-A
Leases - Schedule of Weighted-Average Lease Terms and Discount Rates (Detail) | Jul. 31, 2019 |
Weighted-average remaining lease terms: | |
Finance Leases | 2 years 3 months 18 days |
Operating Leases | 6 years 1 month 6 days |
Weighted-average discount rates: | |
Finance Leases | 6.40% |
Operating Leases | 5.70% |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Lease Payments Under Operating Leases and Finance Leases (Detail) $ in Thousands | Jul. 31, 2019USD ($) |
Operating Leases, Years ending January 31, | |
2020 (remaining 6 months) | $ 5,602 |
2021 | 8,776 |
2022 | 7,201 |
2023 | 7,398 |
2024 | 7,518 |
2025 and thereafter | 16,502 |
Total lease payments | 52,997 |
Less: amount representing interest | (7,982) |
Less: leases executed but not yet commenced | (3,687) |
Less: leases less than 12 months | (304) |
Total lease liabilities | 41,024 |
Finance Leases, Years ending January 31, | |
2020 (remaining 6 months) | 2,900 |
2021 | 6,000 |
2022 | 4,228 |
2023 | 403 |
Total lease payments | 13,531 |
Less: amount representing interest | (1,137) |
Total lease liabilities | $ 12,394 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jul. 31, 2018 | Jul. 31, 2018 | Jul. 31, 2019 | |
Rent expense | $ 2.7 | $ 5.6 | |
Computer and Office Equipment [Member] | |||
Lease liabilities | $ 2 | ||
Lease payment term | 3 years |
Leases - Schedule of Future M_2
Leases - Schedule of Future Minimum Lease Payments Under Operating Leases and Finance Leases Prior To Company's Adoption of New Lease Standard (Detail) $ in Thousands | Jan. 31, 2019USD ($) |
Operating Leases, Years ending January 31, | |
2020 | $ 10,994 |
2021 | 8,534 |
2022 | 7,065 |
2023 | 7,256 |
2024 | 7,342 |
2025 and thereafter | 16,427 |
Total future minimum payments | 57,618 |
Finance Leases, Years ending January 31, | |
2020 | 5,438 |
2021 | 5,366 |
2022 | 3,369 |
2023 | 386 |
Total future minimum payments | $ 14,559 |
Employee Stock Plans - Addition
Employee Stock Plans - Additional Information (Detail) - shares | Jul. 31, 2019 | Jan. 31, 2019 |
Compensation And Retirement Disclosure [Abstract] | ||
Common stock, shares authorized | 1,750,000,000 | 1,750,000,000 |
Employee Stock Plans - Schedule
Employee Stock Plans - Schedule of Shares Reserved for Future Issuance (Detail) - shares shares in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 44,404 | 46,767 |
Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 10,960 | 14,986 |
Restricted Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 11,504 | 10,894 |
Stock Purchase Rights [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 219 | 4,776 |
2018 Stock Option Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 18,387 | 13,411 |
2018 ESPP [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 3,334 | 2,700 |
Employee Stock Plans - Summary
Employee Stock Plans - Summary of Stock-Based Compensation Expense, Net of Estimated Forfeitures (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | $ 20,119 | $ 2,940 | $ 36,421 | $ 4,900 |
Subscription [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | 637 | 75 | 1,128 | 138 |
Professional services [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | 546 | 79 | 1,038 | 118 |
Research and Development [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | 2,494 | 277 | 4,330 | 536 |
Sales and marketing [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | 8,184 | 1,151 | 14,801 | 2,036 |
General and Administrative [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation expense | $ 8,258 | $ 1,358 | $ 15,124 | $ 2,072 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | Jan. 31, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Transfers of assets from level 1 into level 2 | $ 0 | $ 0 | $ 0 | $ 0 | |
Transfers of assets out of level 2 to level 1 | 0 | 0 | 0 | 0 | |
Transfers of liabilities from level 1 into level 2 | 0 | 0 | 0 | 0 | |
Transfers of liabilities out of level 2 to level 1 | 0 | 0 | 0 | 0 | |
Transfers of assets into level 3 | 0 | 0 | 0 | 0 | |
Transfers of assets out of level 3 | 0 | 0 | 0 | 0 | |
Transfers of liabilities into level 3 | 0 | 0 | 0 | 0 | |
Transfers of liabilities out of level 3 | 0 | $ 0 | 0 | $ 0 | |
Fair Value, Measurements, Recurring [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Assets measured at fair value | 0 | 0 | $ 0 | ||
Liabilities measured at fair value | $ 0 | $ 0 | $ 0 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Revenue by Geographical Region Based of Customer (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Total revenue | $ 84,540 | $ 57,828 | $ 160,370 | $ 109,378 |
Operating Segments [Member] | ||||
Total revenue | $ 84,540 | $ 57,828 | $ 160,370 | $ 109,378 |
Percentage of Revenue | 100.00% | 100.00% | 100.00% | 100.00% |
Operating Segments [Member] | Americas [Member] | ||||
Total revenue | $ 50,643 | $ 34,053 | $ 95,529 | $ 64,209 |
Percentage of Revenue | 60.00% | 59.00% | 60.00% | 59.00% |
Operating Segments [Member] | EMEA [Member] | ||||
Total revenue | $ 26,534 | $ 18,860 | $ 50,549 | $ 36,176 |
Percentage of Revenue | 31.00% | 33.00% | 31.00% | 33.00% |
Operating Segments [Member] | APAC [Member] | ||||
Total revenue | $ 7,363 | $ 4,915 | $ 14,292 | $ 8,993 |
Percentage of Revenue | 9.00% | 8.00% | 9.00% | 8.00% |
Revenue Recognition - Additiona
Revenue Recognition - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | Jan. 31, 2019 | |
Total revenue | $ 84,540 | $ 57,828 | $ 160,370 | $ 109,378 | |
Contract assets | 500 | 500 | $ 400 | ||
Deferred revenue recognized | 62,200 | $ 41,900 | 97,500 | $ 67,100 | |
Remaining performance obligation | 516,200 | 516,200 | 440,000 | ||
Billed Revenues [Member] | |||||
Remaining performance obligation | 167,000 | 167,000 | 150,800 | ||
Unbilled Revenues [Member] | |||||
Remaining performance obligation | $ 349,200 | $ 349,200 | $ 289,200 | ||
United States and United Kingdom [Member] | Minimum [Member] | |||||
Percentage of Revenue | 10.00% | ||||
United States [Member] | |||||
Percentage of Revenue | 58.00% | 57.00% | 57.00% | 57.00% | |
Total revenue | $ 48,900 | $ 32,900 | $ 92,100 | $ 62,000 | |
United Kingdom [Member] | |||||
Percentage of Revenue | 12.00% | 14.00% | 12.00% | 14.00% | |
Total revenue | $ 10,000 | $ 8,100 | $ 19,600 | $ 15,400 |
Revenue Recognition - Additio_2
Revenue Recognition - Additional Information (Detail1) | Jul. 31, 2019 | Jan. 31, 2019 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-02-01 | ||
Remaining performance obligation percentage | 53.00% | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-08-01 | ||
Remaining performance obligation percentage | 29.00% | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 6 months | |
Extended Recognition Period [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-02-01 | ||
Remaining performance obligation percentage | 98.00% | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 3 years | |
Extended Recognition Period [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-08-01 | ||
Remaining performance obligation percentage | 94.00% | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 30 months |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Income Tax Disclosure [Abstract] | ||||
Income tax expenses | $ 1,322 | $ 907 | $ 2,409 | $ 1,460 |
Net Loss Per Share Attributab_3
Net Loss Per Share Attributable to Common Stockholders - Schedule of Computation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Numerator: | ||||
Net loss | $ (40,642) | $ (21,048) | $ (77,833) | $ (47,229) |
Denominator: | ||||
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 129,549 | 23,338 | 126,277 | 22,453 |
Net loss per share attributable to common stockholders, basic and diluted | $ (0.31) | $ (0.90) | $ (0.62) | $ (2.10) |
Net Loss Per Share Attributab_4
Net Loss Per Share Attributable to Common Stockholders - Summary of Potential Shares of Common Stock That Were Excluded From the Computation of Diluted Net Loss Per Share Attributable to Common Stockholders (Detail) - shares shares in Thousands | 6 Months Ended | |
Jul. 31, 2019 | Jul. 31, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculations | 22,692 | 103,498 |
Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculations | 73,606 | |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculations | 10,960 | 14,876 |
Stock Repurchase Rights [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculations | 219 | 7,581 |
Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculations | 11,504 | 7,411 |
Unvested Shares Subject To Repurchase [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculations | 9 | |
Convertible Preferred Stock Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculations | 10 | |
Common Stock Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculations | 14 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) | 6 Months Ended |
Jul. 31, 2019 | |
Mintigo, Inc [Member] | |
Subsequent Event [Line Items] | |
Share purchase agreement date | Aug. 26, 2019 |