Rapid7 (RPD) 10-Q 10 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	RPD
Entity Registrant Name	RAPID7, INC.
Entity Central Index Key	1,560,327
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		42,495,607

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 87,715	$ 86,553
Accounts receivable, net of allowance for doubtful accounts of $958 and $730 at September 30, 2016 and December 31, 2015, respectively	38,286	44,164
Prepaid expenses and other current assets	6,705	6,148
Total current assets	132,706	136,865
Property and equipment, net	8,009	7,532
Goodwill	75,110	74,565
Intangible assets, net	9,450	11,385
Other assets	760	214
Total assets	226,035	230,561
Current liabilities:
Accounts payable	2,675	2,038
Accrued expenses	22,226	24,707
Deferred revenue, current portion	104,663	87,917
Other current liabilities	1,352	1,105
Total current liabilities	130,916	115,767
Deferred revenue, non-current portion	44,601	42,400
Other long-term liabilities	2,872	4,319
Total liabilities	178,389	162,486
Stockholders' equity:
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized at September 30, 2016 and December 31, 2015; 0 shares issued at September 30, 2016 and December 31, 2015
Common stock, $0.01 par value per share; 100,000,000 shares authorized at September 30, 2016 and December 31, 2015; 42,929,120 and 41,942,026 shares issued at September 30, 2016 and December 31, 2015, respectively; 42,480,491 and 41,540,400 shares outstanding at September 30, 2016 and December 31, 2015, respectively	425	415
Additional paid-in-capital	430,939	411,524
Accumulated deficit	(379,564)	(340,338)
Treasury stock, at cost, 448,629 and 401,626 shares at September 30, 2016 and December 31, 2015, respectively	(4,154)	(3,526)
Total stockholders' equity	47,646	68,075
Total liabilities and stockholders' equity	$ 226,035	$ 230,561

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Net of allowance for doubtful accounts	$ 958	$ 730
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	42,929,120	41,942,026
Common stock, shares outstanding	42,480,491	41,540,400
Treasury Stock, shares	448,629	401,626

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue:
Products	$ 23,108	$ 16,240	$ 64,709	$ 44,524
Maintenance and support	9,694	7,002	27,037	19,054
Professional services	7,537	5,070	20,657	14,095
Total revenue	40,339	28,312	112,403	77,673
Cost of revenue:
Products	3,415	1,504	8,700	4,389
Maintenance and support	1,801	1,505	5,240	4,127
Professional services	4,822	4,054	14,103	11,766
Total cost of revenue	10,038	7,063	28,043	20,282
Total gross profit	30,301	21,249	84,360	57,391
Operating expenses:
Research and development	11,616	9,945	36,890	24,490
Sales and marketing	21,284	16,265	65,732	43,952
General and administrative	7,605	5,537	20,842	14,638
Total operating expenses	40,505	31,747	123,464	83,080
Loss from operations	(10,204)	(10,498)	(39,104)	(25,689)
Other income (expense), net:
Interest income (expense), net	44	(1,067)	55	(2,489)
Other income (expense), net	36	(49)	184	(191)
Loss before income taxes	(10,124)	(11,614)	(38,865)	(28,369)
Provision for income taxes	70	211	361	382
Net loss	(10,194)	(11,825)	(39,226)	(28,751)
Accretion of preferred stock to redemption value				(35,061)
Beneficial conversion charge relating to IPO participation payment		(14,161)		(14,161)
Net loss attributable to common stockholders	$ (10,194)	$ (25,986)	$ (39,226)	$ (77,973)
Net loss per share attributable to common stockholders, basic and diluted	$ (0.25)	$ (0.79)	$ (0.96)	$ (3.99)
Weighted-average common shares outstanding, basic and diluted	41,482,173	33,020,484	41,033,080	19,544,759

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net loss	$ (39,226)	$ (28,751)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	5,330	3,700
Amortization of debt discount		1,129
Non-cash interest expense	168	130
Stock-based compensation expense	13,337	2,833
Provision for doubtful accounts	504	576
Impairment of long-lived assets		483
Foreign currency re-measurement (gain) loss	(166)	90
Changes in assets and liabilities:
Accounts receivable	5,134	(6,649)
Prepaid expenses and other assets	(1,076)	(521)
Accounts payable	549	(1,601)
Accrued expenses	(1,607)	1,591
Deferred revenue	18,948	25,068
Other liabilities	166	(58)
Net cash provided by (used in) operating activities	2,061	(1,980)
Cash flows from investing activities:
Business acquisitions, net of cash acquired		(3,344)
Purchases of property and equipment	(3,307)	(2,839)
Net cash used in investing activities	(3,307)	(6,183)
Cash flows from financing activities:
Proceeds from initial public offering and concurrent private placement, net of offering costs of $2,456		112,916
Repayments of term loan and related termination fee		(18,540)
Payments of capital lease obligations	(68)	(187)
Taxes paid related to net share settlement of equity awards	(3,826)
Proceeds from employee stock purchase plan	3,724
Proceeds from stock option exercises	2,518	1,275
Net cash provided by financing activities	2,348	95,464
Effect of exchange rate changes on cash and cash equivalents	60	(140)
Net increase in cash and cash equivalents	1,162	87,161
Cash and cash equivalents, beginning of period	86,553	36,823
Cash and cash equivalents, end of period	87,715	123,984
Supplemental cash flow information:
Cash paid for income taxes	480	291
Cash paid for interest	$ 1	1,424
Supplemental non-cash investing and financing information:
Common stock issued for acquisitions		99
Initial public offering costs incurred but not yet paid		$ 641

Consolidated Statements of Cas6

Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Statement of Cash Flows [Abstract]
Offering Costs	$ 2,456

Description of Business, Basis

Description of Business, Basis of Presentation and Consolidation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Description of Business, Basis of Presentation and Consolidation and Significant Accounting Policies	Note 1. Description of Business, Basis of Presentation and Consolidation and Significant Accounting Policies Description of Business Rapid7, Inc. and its wholly-owned subsidiaries (“we,” “us” or “our”) is a leading provider of security data and analytics solutions that enable organizations to implement an active, analytics-driven approach to cyber security. Our solutions empower organizations to prevent cyber attacks by providing visibility into vulnerabilities and to rapidly detect compromises, respond to breaches and correct the underlying causes of cyber attacks. Basis of Presentation and Consolidation The accompanying unaudited consolidated financial statements have been prepared by us in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) as well as pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, 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. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on March 10, 2016. The consolidated financial statements include our results of operations and those of our wholly-owned subsidiaries and reflect all adjustments (consisting solely of normal, recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim periods presented. All intercompany transactions and balances have been eliminated in consolidation. The results of operations for the three and nine months ended September 30, 2016 are not necessarily indicative of the results to be expected for any future period or the entire fiscal year. Significant Accounting Policies There have been no significant changes to our significant accounting policies as of and for the three and nine months ended September 30, 2016, as compared to the significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2015, except with respect to changes in our policy on Cash and Cash Equivalents as noted below. Cash and Cash Equivalents We consider all highly liquid instruments with original maturities of three months or less at the date of purchase to be cash equivalents. Cash and cash equivalents are recorded at cost, which approximates fair value. As of September 30, 2016, $30.0 million of our cash equivalents were invested in money market funds. Recent 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 In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) – Balance Sheet Classification of Deferred Taxes In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805) – Simplifying the Accounting for Measurement-Period Adjustments In April 2015, the FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Business Combinations	Note 2. Business Combinations Prior Year Acquisitions RevelOps, Inc. On October 13, 2015, we acquired 100% of the outstanding equity of RevelOps, Inc. (d/b/a Logentries) for total consideration of $68.1 million. We made an initial payment of $36.2 million in cash, issued 1,252,627 shares of our common stock with an aggregate fair value of $27.4 million, inclusive of a discount from the quoted market price due to certain trading restrictions associated with the shares, and issued vested replacement options with respect to 221,759 shares of our common stock to certain continuing employees with an aggregate fair value of $4.5 million upon the closing of the acquisition. The fair value of the vested replacement options included in the purchase price was based on the fair value of the vested Logentries options on the acquisition date. The excess fair value when comparing the fair value of the new vested replacement options and the vested Logentries options of $0.3 million was expensed immediately in the post-combination financial statements of the combined entity. Assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date. The excess of the purchase price over the assets acquired and liabilities assumed was recorded as goodwill. The fair values of goodwill, intangible assets and net assets were $59.2 million, $9.4 million and $(0.5) million, respectively. Pro Forma Financial Information The unaudited pro forma financial information in the table below summarizes the combined results of our operations and Logentries, on a pro forma basis, as though we had acquired Logentries on January 1, 2014. The unaudited pro forma financial information for all periods presented also includes the effects of business combination accounting resulting from the acquisition, including amortization expense from acquired intangibles assets, reversal of acquisition related expenses and the stock-compensation expense recorded to retain certain employees. Three Months Ended Nine Months Ended September 30, 2015 September 30, 2015 (in thousands) Total revenue $ 29,114 $ 79,612 Net loss $ (16,605 ) $ (39,962 ) NT OBJECTives, Inc. On April 30, 2015, we acquired 100% of the outstanding equity of NT OBJECTives, Inc. (NTO), a web application security testing company, which has allowed us to expand the web application testing capabilities of our threat exposure management product offering. We acquired NTO for total consideration of $6.1 million. We made an initial payment of $3.4 million in cash and issued 9,091 shares of our common stock with an aggregate fair value of $0.1 million. We are obligated to pay $0.1 million in cash for the settlement of a working capital adjustment and are obligated to make two additional payments of $1.5 million each, less the amount of any indemnity claims. The net present value of these two additional payments, or $2.5 million, was included in the total purchase consideration paid. Assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date. The excess of the purchase price over the assets acquired and liabilities assumed was recorded as goodwill. The fair values of goodwill, intangible assets and net assets were $4.6 million, $2.1 million and $(0.6) million, respectively. Pro forma results of operations have not been included in this Quarterly Report, as the acquisition of NTO was not material to our results of operations for any periods presented. In May 2015, we entered into loan agreements with certain retained employees of NTO. The terms of these agreements require the employees to pay us the total amount borrowed, with accrued interest at 1.7% per annum, within 18 months of the agreement date. The loan agreements are secured by restricted stock awards granted to the employees. The aggregate amount of these loans was $0.5 million and is currently classified as prepaid expenses and other current assets on our consolidated balance sheets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 3. Fair Value Measurements We measure certain financial assets at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows: Level 1 Level 2 Level 3 The following table presents our assets that are measured at fair value on a recurring basis using the above input categories: As of September 30, 2016 Level 1 Level 2 Level 3 Total (in thousands) Assets: Cash equivalents Money market funds $ 30,004 $ — $ — $ 30,004 Total assets measured at fair value $ 30,004 $ — $ — $ 30,004

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 4. Goodwill and Intangible Assets The change in the carrying amount of goodwill for the nine months ended September 30, 2016 was as follows: Amount (in thousands) Balance as of December 31, 2015 $ 74,565 Logentries acquisition accounting adjustments 545 Balance as of September 30, 2016 $ 75,110 Identifiable intangible assets consist of the following: As of September 30, 2016 As of December 31, 2015 Weighted- Gross Carrying Accumulated Net Book Value Gross Carrying Accumulated Net Book Value (in thousands) Intangible assets subject to amortization: Developed technology 6.3 $ 11,231 $ (2,672 ) $ 8,559 $ 12,851 $ (2,955 ) $ 9,896 Trade names 6.1 519 (481 ) 38 719 (389 ) 330 Customer relationships 6.7 1,000 (159 ) 841 1,000 (43 ) 957 Non-compete agreements 2.0 40 (28 ) 12 540 (338 ) 202 Total intangible assets $ 12,790 $ (3,340 ) $ 9,450 $ 15,110 $ (3,725 ) $ 11,385 Amortization expense was $0.8 million and $0.3 million for the three months ended September 30, 2016 and 2015, respectively, and $1.9 million and $0.8 million for the nine months ended September 30, 2016 and 2015, respectively. During the third quarter of 2016, we discontinued our Mobilisafe product offering and accelerated the amortization of the remaining $0.2 million net book value. In addition, we wrote-off the $2.3 million gross carrying amount and related accumulative amortization. Estimated future amortization expense of the acquired identifiable intangible assets as of September 30, 2016 is as follows (in thousands): 2016 (for the remaining three months) $ 504 2017 1,930 2018 1,886 2019 1,859 2020 1,837 2021 and thereafter 1,434 Total $ 9,450

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 5. Property and Equipment Property and equipment are recorded at cost and consist of the following: As of As of September 30, 2016 December 31, 2015 (in thousands) Computer equipment and software $ 12,126 $ 9,858 Furniture and fixtures 2,741 2,409 Leasehold improvements 8,192 6,943 Total 23,059 19,210 Less accumulated depreciation (15,050 ) (11,678 ) Property and equipment, net $ 8,009 $ 7,532 Depreciation expense was $1.2 million and $1.1 million for the three months ended September 30, 2016 and 2015, respectively, and $3.4 million and $2.9 million for the nine months ended September 30, 2016 and 2015, respectively.

Stock-Based Compensation Expens

Stock-Based Compensation Expense	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense	Note 6. Stock-Based Compensation Expense (a) General Stock-based compensation expense for restricted stock, restricted stock units, stock options and issuances of common stock pursuant to our employee stock purchase plan was classified in the accompanying consolidated statements of operations as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands) Stock-based compensation expense: Cost of revenue $ 166 $ 102 $ 445 $ 203 Research and development 1,600 507 4,617 917 Sales and marketing 1,328 418 5,453 728 General and administrative 1,083 400 2,822 985 Total stock-based compensation expense $ 4,177 $ 1,427 $ 13,337 $ 2,833 We recognize compensation cost of all awards on a straight-line basis over the applicable vesting period, which is generally four years. (b) Restricted Stock and Restricted Stock Units Restricted stock and restricted stock unit activity during the nine months ended September 30, 2016 was as follows: Restricted Stock Weighted Unvested balance as of December 31, 2015 1,149,257 $ 19.34 Granted 800,791 13.12 Vested (494,554 ) 19.86 Forfeited (101,880 ) 14.27 Unvested balance as of September 30, 2016 1,353,614 $ 15.85 As of September 30, 2016, the unrecognized compensation expense related to our unvested restricted stock and restricted stock units expected to vest was $15.4 million. This unrecognized compensation expense will be recognized over an estimated weighted-average amortization period of 2.6 years. During the nine months ended September 30, 2016, we repurchased 47,003 shares of our common stock in settlement of employee tax withholding obligations due upon the vesting of restricted stock. (c) Stock Options Stock option activity during the nine months ended September 30, 2016 was as follows: Shares Weighted Weighted Aggregate (in thousands) Outstanding as of December 31, 2015 4,246,525 $ 5.99 Granted 1,279,034 13.12 Exercised (576,154 ) 4.29 $ 5,791 Forfeited/cancelled (429,343 ) 10.69 Outstanding as of September 30, 2016 4,520,062 7.89 7.4 $ 44,403 Vested and exercisable as of September 30, 2016 2,725,099 5.35 6.5 $ 33,624 Vested and expected to vest as of September 30, 2016 4,174,837 7.51 7.3 $ 42,556 As of September 30, 2016, the unrecognized compensation expense related to our unvested stock options expected to vest was $7.2 million. This unrecognized compensation expense will be recognized over an estimated weighted-average amortization period of 2.7 years. The total fair value of stock options vested in the nine months ended September 30, 2016 was $2.6 million. The weighted-average grant date fair value of stock options granted in the nine months ended September 30, 2016 was $6.44 per share. (d) Employee Stock Purchase Plan Under the Rapid7, Inc. 2015 Employee Stock Purchase Plan (ESPP), employees may set aside up to 15% of their gross earnings, on an after-tax basis, to purchase our common shares at a discounted price, which is calculated at 85% of the lesser of: (i) the market value of our common stock at the beginning of each offering period and (ii) the market value of our common stock on the applicable purchase date. On March 15, 2016, we issued 192,676 shares of common stock to employees for aggregate proceeds of $2.1 million. The purchase price of the shares of common stock was $10.88 per share, which was discounted in accordance with the terms of the ESPP from the closing price of our common stock on March 15, 2016 of $12.80. On September 15, 2016, we issued 153,602 shares of common stock to employees for aggregate proceeds of $1.6 million. The purchase price of the shares of common stock was $10.60 per share, which was discounted in accordance with the terms of the ESPP from the closing price of our common stock on March 16, 2016 of $12.47. (e) Employee Transition and Release Agreement On August 5, 2016, we entered into a transition and release agreement with Steven Gatoff, our Chief Financial Officer. Under the agreement, we made certain modifications to his outstanding stock options and restricted stock units which will generate incremental stock-based compensation expense of $0.3 million. Of the $0.3 million incremental stock-based compensation expense, $0.1 million was recorded within general and administrative expense in the three months ended September 30, 2016.

Net Loss per Share

Net Loss per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Net Loss per Share	Note 7. Net Loss per Share The following table summarizes the computation of basic and diluted net loss per share of our common stock for the three and nine months ended September 30, 2016 and 2015: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands, except share and per share data) Numerator: Net loss $ (10,194 ) $ (11,825 ) $ (39,226 ) $ (28,751 ) Accretion of preferred stock to redemption value — — — (35,061 ) Beneficial conversion charge relating to IPO participation payment — (14,161 ) — (14,161 ) Net loss attributable to common stockholders, basic and diluted $ (10,194 ) $ (25,986 ) $ (39,226 ) $ (77,973 ) Denominator: Weighted-average 41,482,173 33,020,484 41,033,080 19,544,759 Net loss per share attributable to common stockholders, basic and diluted $ (0.25 ) $ (0.79 ) $ (0.96 ) $ (3.99 ) The following potentially dilutive securities outstanding, prior to the use of the treasury stock method or if-converted method, have been excluded from the computation of diluted weighted-average shares outstanding for the respective periods below because they would have been anti-dilutive: Three and Nine Months Ended 2016 2015 Options to purchase common stock 4,520,062 4,060,480 Unvested restricted stock 696,187 372,775 Unvested restricted stock units 657,427 — Warrants to purchase common stock — 200,000 Shares to be issued under ESPP 15,087 — Total 5,888,763 4,633,255

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies (a) Warranty We provide limited product warranties. Historically, any payments made under these provisions have been immaterial. (b) Litigation and Claims From time to time, we are and may be a party to litigation and subject to claims incident to the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, we currently believe that the final outcome of these ordinary course matters will not have a material adverse effect on our business. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors. During the third quarter of 2016, we entered into a settlement and licensing agreement, which requires us to make a total cash payment of $0.4 million to a third party. The settlement has been recorded as general and administrative expense in the three months ended September 30, 2016. (c) Indemnification Obligations We agree to standard indemnification provisions in the ordinary course of business. Pursuant to these provisions, we agree to indemnify, hold harmless and reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally our customers, in connection with any United States patent, copyright or other intellectual property infringement claim by any third party arising from the use of our products or services in accordance with the agreement or arising from our gross negligence, willful misconduct or violation of the law (provided that there is not gross or willful misconduct on the part of the other party) with respect to our products or services. The term of these indemnification provisions is generally perpetual from the time of execution of the agreement. We carry insurance that covers certain third-party claims relating to our services and limits our exposure. We have never incurred costs to defend lawsuits or settle claims related to these indemnification provisions. (d) Contingent Grant from Northern Ireland In the three months ended September 30, 2016, we received a $0.6 million grant from Invest Northern Ireland for creating and maintaining a certain number of jobs in Northern Ireland, which we agreed to maintain over a certain period of time. The grant proceeds were recorded as a reduction to operating expense, as we determined there is reasonable assurance that we will meet the compliance criteria related to the grant. If we fail to meet the compliance criteria, then a pro rata portion of the grant proceeds would be required to be returned.

Segment Information and Informa

Segment Information and Information about Geographic Areas	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information and Information about Geographic Areas	Note 9. Segment Information and Information about Geographic Areas We operate in one segment. Our chief operating decision maker is our Chief Executive Officer, who makes operating decisions, assesses performance and allocates resources on a consolidated basis. Net revenues by geographic area presented based upon the location of the customer were as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands) North America $ 34,538 $ 24,878 $ 96,957 $ 67,839 Other 5,801 3,434 15,446 9,834 Total $ 40,339 $ 28,312 $ 112,403 $ 77,673 Of the total net revenues generated in North America, 94% and 96% of the revenues were generated in the United States for the three and nine months ended September 30, 2016, respectively, and 96% of the revenues were generated in the United States for the three and nine months ended September 30, 2015. Property and equipment, net by geographic area was as follows: As of As of September 30, 2016 December 31, 2015 (in thousands) United States $ 6,946 $ 6,633 Other 1,063 899 Total $ 8,009 $ 7,532

Description of Business, Basi16

Description of Business, Basis of Presentation and Consolidation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying unaudited consolidated financial statements have been prepared by us in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) as well as pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, 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. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on March 10, 2016. The consolidated financial statements include our results of operations and those of our wholly-owned subsidiaries and reflect all adjustments (consisting solely of normal, recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim periods presented. All intercompany transactions and balances have been eliminated in consolidation. The results of operations for the three and nine months ended September 30, 2016 are not necessarily indicative of the results to be expected for any future period or the entire fiscal year.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid instruments with original maturities of three months or less at the date of purchase to be cash equivalents. Cash and cash equivalents are recorded at cost, which approximates fair value. As of September 30, 2016, $30.0 million of our cash equivalents were invested in money market funds.
Recent Accounting Pronouncements	Recent 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 In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) – Balance Sheet Classification of Deferred Taxes In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805) – Simplifying the Accounting for Measurement-Period Adjustments In April 2015, the FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2016
Logentries [Member]
Pro Forma Financial Information	The unaudited pro forma financial information in the table below summarizes the combined results of our operations and Logentries, on a pro forma basis, as though we had acquired Logentries on January 1, 2014. The unaudited pro forma financial information for all periods presented also includes the effects of business combination accounting resulting from the acquisition, including amortization expense from acquired intangibles assets, reversal of acquisition related expenses and the stock-compensation expense recorded to retain certain employees. Three Months Ended Nine Months Ended September 30, 2015 September 30, 2015 (in thousands) Total revenue $ 29,114 $ 79,612 Net loss $ (16,605 ) $ (39,962 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Assets Measured at Fair Value on Recurring Basis	The following table presents our assets that are measured at fair value on a recurring basis using the above input categories: As of September 30, 2016 Level 1 Level 2 Level 3 Total (in thousands) Assets: Cash equivalents Money market funds $ 30,004 $ — $ — $ 30,004 Total assets measured at fair value $ 30,004 $ — $ — $ 30,004

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The change in the carrying amount of goodwill for the nine months ended September 30, 2016 was as follows: Amount (in thousands) Balance as of December 31, 2015 $ 74,565 Logentries acquisition accounting adjustments 545 Balance as of September 30, 2016 $ 75,110
Schedule of Identifiable Intangible Assets	Identifiable intangible assets consist of the following: As of September 30, 2016 As of December 31, 2015 Weighted- Gross Carrying Accumulated Net Book Value Gross Carrying Accumulated Net Book Value (in thousands) Intangible assets subject to amortization: Developed technology 6.3 $ 11,231 $ (2,672 ) $ 8,559 $ 12,851 $ (2,955 ) $ 9,896 Trade names 6.1 519 (481 ) 38 719 (389 ) 330 Customer relationships 6.7 1,000 (159 ) 841 1,000 (43 ) 957 Non-compete agreements 2.0 40 (28 ) 12 540 (338 ) 202 Total intangible assets $ 12,790 $ (3,340 ) $ 9,450 $ 15,110 $ (3,725 ) $ 11,385
Schedule of Estimated Amortization Expense	Estimated future amortization expense of the acquired identifiable intangible assets as of September 30, 2016 is as follows (in thousands): 2016 (for the remaining three months) $ 504 2017 1,930 2018 1,886 2019 1,859 2020 1,837 2021 and thereafter 1,434 Total $ 9,450

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment are recorded at cost and consist of the following: As of As of September 30, 2016 December 31, 2015 (in thousands) Computer equipment and software $ 12,126 $ 9,858 Furniture and fixtures 2,741 2,409 Leasehold improvements 8,192 6,943 Total 23,059 19,210 Less accumulated depreciation (15,050 ) (11,678 ) Property and equipment, net $ 8,009 $ 7,532

Stock-Based Compensation Expe21

Stock-Based Compensation Expense (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense for restricted stock, restricted stock units, stock options and issuances of common stock pursuant to our employee stock purchase plan was classified in the accompanying consolidated statements of operations as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands) Stock-based compensation expense: Cost of revenue $ 166 $ 102 $ 445 $ 203 Research and development 1,600 507 4,617 917 Sales and marketing 1,328 418 5,453 728 General and administrative 1,083 400 2,822 985 Total stock-based compensation expense $ 4,177 $ 1,427 $ 13,337 $ 2,833
Summary of Restricted Stock and Restricted Stock Unit Activity	Restricted stock and restricted stock unit activity during the nine months ended September 30, 2016 was as follows: Restricted Stock Weighted Unvested balance as of December 31, 2015 1,149,257 $ 19.34 Granted 800,791 13.12 Vested (494,554 ) 19.86 Forfeited (101,880 ) 14.27 Unvested balance as of September 30, 2016 1,353,614 $ 15.85
Summary of Stock Option Activity	Stock option activity during the nine months ended September 30, 2016 was as follows: Shares Weighted Weighted Aggregate (in thousands) Outstanding as of December 31, 2015 4,246,525 $ 5.99 Granted 1,279,034 13.12 Exercised (576,154 ) 4.29 $ 5,791 Forfeited/cancelled (429,343 ) 10.69 Outstanding as of September 30, 2016 4,520,062 7.89 7.4 $ 44,403 Vested and exercisable as of September 30, 2016 2,725,099 5.35 6.5 $ 33,624 Vested and expected to vest as of September 30, 2016 4,174,837 7.51 7.3 $ 42,556

Net Loss per Share (Tables)

Net Loss per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Summary of Basic and Diluted Net Loss Per Share of Common Stock	The following table summarizes the computation of basic and diluted net loss per share of our common stock for the three and nine months ended September 30, 2016 and 2015: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands, except share and per share data) Numerator: Net loss $ (10,194 ) $ (11,825 ) $ (39,226 ) $ (28,751 ) Accretion of preferred stock to redemption value — — — (35,061 ) Beneficial conversion charge relating to IPO participation payment — (14,161 ) — (14,161 ) Net loss attributable to common stockholders, basic and diluted $ (10,194 ) $ (25,986 ) $ (39,226 ) $ (77,973 ) Denominator: Weighted-average 41,482,173 33,020,484 41,033,080 19,544,759 Net loss per share attributable to common stockholders, basic and diluted $ (0.25 ) $ (0.79 ) $ (0.96 ) $ (3.99 )
Anti-Dilutive Securities Excluded from Computation Diluted Weighted Average Shares Outstanding	The following potentially dilutive securities outstanding, prior to the use of the treasury stock method or if-converted method, have been excluded from the computation of diluted weighted-average shares outstanding for the respective periods below because they would have been anti-dilutive: Three and Nine Months Ended 2016 2015 Options to purchase common stock 4,520,062 4,060,480 Unvested restricted stock 696,187 372,775 Unvested restricted stock units 657,427 — Warrants to purchase common stock — 200,000 Shares to be issued under ESPP 15,087 — Total 5,888,763 4,633,255

Segment Information and Infor23

Segment Information and Information about Geographic Areas (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Net Revenues of Customer by Geographic Area	Net revenues by geographic area presented based upon the location of the customer were as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands) North America $ 34,538 $ 24,878 $ 96,957 $ 67,839 Other 5,801 3,434 15,446 9,834 Total $ 40,339 $ 28,312 $ 112,403 $ 77,673
Property and Equipment, Net By Geographic Area	Property and equipment, net by geographic area was as follows: As of As of September 30, 2016 December 31, 2015 (in thousands) United States $ 6,946 $ 6,633 Other 1,063 899 Total $ 8,009 $ 7,532

Description of Business, Basi24

Description of Business, Basis of Presentation and Consolidation and Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items]
Cash equivalents	$ 87,715	$ 86,553	$ 123,984	$ 36,823
Money Market Funds [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure And Significant Accounting Policies [Line Items]
Cash equivalents	$ 30,000

Business Combinations - Additio

Business Combinations - Additional Information (Detail) - USD ($) $ in Thousands	Oct. 13, 2015	Apr. 30, 2015	May 31, 2015	Sep. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Fair value of goodwill				$ 75,110	$ 74,565
Percentage of accrued interest			1.70%
Related party transaction maturity period			18 months
Aggregate loan amount			$ 500
RevelOps, Inc [Member]
Business Acquisition [Line Items]
Percentage of shares outstanding acquired	100.00%
Total consideration	$ 68,100
Cash consideration	$ 36,200
Number of shares issued as part of acquisition	1,252,627
Fair value of shares issued as part of acquisition	$ 27,400
Value of shares issued and vested with replacement options	$ 4,500
RevelOps, Inc [Member] | Replacement Options [Member]
Business Acquisition [Line Items]
Number of shares issued as part of acquisition	221,759
Logentries [Member]
Business Acquisition [Line Items]
Fair value in excess of vested options expensed	$ 300
Fair value of goodwill	59,200
Fair value of intangible assets	9,400
Net assets acquired	$ (500)
NT OBJECTives, Inc. [Member]
Business Acquisition [Line Items]
Percentage of shares outstanding acquired		100.00%
Total consideration		$ 6,100
Cash consideration		$ 3,400
Number of shares issued as part of acquisition		9,091
Fair value of goodwill		$ 4,600
Fair value of intangible assets		2,100
Net assets acquired		(600)
Shares issued in connection with business acquisition, value		100
Additional payment		3,000
Future cash payment		2,500
Additional payment		$ 100

Business Combinations - Busines

Business Combinations - Business acquisition, pro forma information (Detail) - Logentries [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Business Acquisition Pro Forma Information [Line Items]
Total revenue	$ 29,114	$ 79,612
Net loss	$ (16,605)	$ (39,962)

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] $ in Thousands	Sep. 30, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 30,004
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	30,004
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	30,004
Level 1 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 30,004

Goodwill and Intangible Asset28

Goodwill and Intangible Assets - Schedule of Change in Carrying Amount of Goodwill (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill And Intangible Assets [Line Items]
Goodwill, beginning balance	$ 74,565
Goodwill, ending balance	75,110
Logentries [Member]
Goodwill And Intangible Assets [Line Items]
Acquisition	$ 545

Goodwill and Intangible Asset29

Goodwill and Intangible Assets - Schedule of Identifiable Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross Carrying Amount	$ 12,790	$ 15,110
Intangible assets, Accumulated Amortization	(3,340)	(3,725)
Intangible assets, Net Book Value	$ 9,450	11,385
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Weighted- Average Life	6 years 1 month 6 days
Intangible assets, Gross Carrying Amount	$ 519	719
Intangible assets, Accumulated Amortization	(481)	(389)
Intangible assets, Net Book Value	$ 38	330
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Weighted- Average Life	6 years 3 months 18 days
Intangible assets, Gross Carrying Amount	$ 11,231	12,851
Intangible assets, Accumulated Amortization	(2,672)	(2,955)
Intangible assets, Net Book Value	$ 8,559	9,896
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Weighted- Average Life	6 years 8 months 12 days
Intangible assets, Gross Carrying Amount	$ 1,000	1,000
Intangible assets, Accumulated Amortization	(159)	(43)
Intangible assets, Net Book Value	$ 841	957
Non-compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Weighted- Average Life	2 years
Intangible assets, Gross Carrying Amount	$ 40	540
Intangible assets, Accumulated Amortization	(28)	(338)
Intangible assets, Net Book Value	$ 12	$ 202

Goodwill and Intangible Asset30

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 0.8	$ 0.3	$ 1.9	$ 0.8
Mobilisafe Product [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense			0.2
Write-down of intangible assets			$ 2.3

Goodwill and Intangible Asset31

Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2016 (for the remaining three months)	$ 504
2,017	1,930
2,018	1,886
2,019	1,859
2,020	1,837
2021 and thereafter	1,434
Intangible assets, Net Book Value	$ 9,450	$ 11,385

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 23,059	$ 19,210
Less accumulated depreciation	(15,050)	(11,678)
Net property and equipment	8,009	7,532
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	12,126	9,858
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,741	2,409
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 8,192	$ 6,943

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1.2	$ 1.1	$ 3.4	$ 2.9

Stock-Based Compensation Expe34

Stock-Based Compensation Expense - Schedule of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 4,177	$ 1,427	$ 13,337	$ 2,833
Cost of Revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	166	102	445	203
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,600	507	4,617	917
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,328	418	5,453	728
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,083	$ 400	$ 2,822	$ 985

Stock-Based Compensation Expe35

Stock-Based Compensation Expense - Additional Information (Detail) - USD ($)	Sep. 15, 2016	Mar. 15, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Mar. 16, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					4 years
Number of common stock repurchased					47,003
Purchase price of common stock by employees					85.00%
Stock-based compensation expense			$ 4,177,000	$ 1,427,000	$ 13,337,000	$ 2,833,000
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			1,083,000	$ 400,000	$ 2,822,000	$ 985,000
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Employee Stock Purchase Plans	153,602	192,676
Stock Issued During Period, Value, Employee Stock Purchase Plans	$ 1,600,000	$ 2,100,000
Share issued, price per share	$ 10.60	$ 10.88
Closing price of shares issued		$ 12.80					$ 12.47
Employee Stock Purchase Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee withholding percentage					15.00%
Restricted Stock And Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, restricted stock			15,400,000		$ 15,400,000
Unrecognized compensation expense, recognition period					2 years 7 months 6 days
Options to Purchase Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, recognition period					2 years 8 months 12 days
Unrecognized compensation cost, stock options			7,200,000		$ 7,200,000
Stock options vested, fair value					$ 2,600,000
Stock options granted, weighted-average grant date fair value					$ 6.44
Options to Purchase Common Stock [Member] | Chief Financial Officer [Member] | General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			100,000
Stock Options and Restricted Stock [Member] | Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incremental stock-based compensation expense			300,000
Stock Options and Restricted Stock [Member] | Chief Financial Officer [Member] | General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 100,000

Stock-Based Compensation Expe36

Stock-Based Compensation Expense - Summary of Restricted Stock and Restricted Stock Unit Activity (Detail) - Restricted Stock [Member]	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares unvested balance, Beginning balance | shares	1,149,257
Restricted stock granted, Shares | shares	800,791
Restricted stock vested, Shares | shares	(494,554)
Restricted stock forfeited, Shares | shares	(101,880)
Restricted shares unvested balance, Ending balance | shares	1,353,614
Weighted-average grant date fair value, Beginning balance | $ / shares	$ 19.34
Weighted-average grant date fair value, Restricted stock granted | $ / shares	13.12
Weighted-average grant date fair value, Restricted stock vested | $ / shares	19.86
Weighted-average grant date fair value, Restricted stock forfeited | $ / shares	14.27
Weighted-average grant date fair value, Ending Balance | $ / shares	$ 15.85

Stock-Based Compensation Expe37

Stock-Based Compensation Expense - Summary of Stock Option Activity (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of shares under stock option, Beginning balance | shares	4,246,525
Number of shares Granted | shares	1,279,034
Number of shares Exercised | shares	(576,154)
Number of shares forfeited/cancelled | shares	(429,343)
Number of shares under stock option, Ending balance | shares	4,520,062
Number of stock options, Vested and exercisable | shares	2,725,099
Number of stock options, Vested or expected to vest | shares	4,174,837
Weighted average exercise price, Beginning balance | $ / shares	$ 5.99
Weighted average exercise price, Stock options granted | $ / shares	13.12
Weighted average exercise price, Stock options exercised | $ / shares	4.29
Weighted average exercise price, Stock options forfeited/cancelled | $ / shares	10.69
Weighted average exercise price, Ending balance | $ / shares	7.89
Weighted average exercise price, Vested and exercisable | $ / shares	5.35
Weighted average exercise price, Vested and expected to vest | $ / shares	$ 7.51
Weighted Average Remaining Contractual Life, Outstanding	7 years 4 months 24 days
Weighted Average Remaining Contractual Life, Vested and exercisable	6 years 6 months
Weighted Average Remaining Contractual Life, Vested and expected to vest	7 years 3 months 18 days
Stock options aggregate intrinsic value, Exercised | $	$ 5,791
Stock options aggregate intrinsic value, Outstanding | $	44,403
Stock options aggregate intrinsic value, Exercisable | $	33,624
Stock options aggregate intrinsic value, Vested and expected to vest | $	$ 42,556

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Basic and Diluted Net Loss Per Share of Common Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Net loss	$ (10,194)	$ (11,825)	$ (39,226)	$ (28,751)
Accretion of preferred stock to redemption value				(35,061)
Beneficial conversion charge relating to IPO participation payment		(14,161)		(14,161)
Net loss attributable to common stockholders, basic and diluted	$ (10,194)	$ (25,986)	$ (39,226)	$ (77,973)
Weighted-average common shares outstanding, basic and diluted	41,482,173	33,020,484	41,033,080	19,544,759
Net loss per share attributable to common stockholders, basic and diluted	$ (0.25)	$ (0.79)	$ (0.96)	$ (3.99)

Net Loss Per Share - Summary 39

Net Loss Per Share - Summary of Antidilutive Securities Excluded From Computation Diluted Weighted Average Shares Outstanding (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	5,888,763	4,633,255	5,888,763	4,633,255
Unvested Restricted Stock [Member]
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	696,187	372,775	696,187	372,775
Unvested Restricted Stock Units [Member]
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	657,427		657,427
Warrants to Purchase Common Stock [Member]
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount		200,000		200,000
Employee Stock Purchase Plan [Member]
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	15,087		15,087
Options to Purchase Common Stock [Member]
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	4,520,062	4,060,480	4,520,062	4,060,480

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Sep. 30, 2016USD ($)
General and Administrative [Member] | Settlement and Licensing Agreement [Member]
Commitments And Contingencies Disclosure [Line Items]
Litigation settlement expense	$ 0.4
Operating Expense [Member] | Invest Northern Ireland [Member]
Commitments And Contingencies Disclosure [Line Items]
Proceeds from grant	$ 0.6

Segment Information and Infor41

Segment Information and Information about Geographic Areas - Additional Information (Detail) - Segment	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Number of operating segment			1
United States [Member]
Segment Reporting Information [Line Items]
Percentage of net revenues	94.00%	96.00%	96.00%	96.00%

Segment Information and Infor42

Segment Information and Information about Geographic Areas - Net Revenues of Customer by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Entity Wide Portfolio Carrying Amount, Major Customer [Line Items]
Net revenues, Total	$ 40,339	$ 28,312	$ 112,403	$ 77,673
North America [Member]
Entity Wide Portfolio Carrying Amount, Major Customer [Line Items]
Net revenues, Total	34,538	24,878	96,957	67,839
Other [Member]
Entity Wide Portfolio Carrying Amount, Major Customer [Line Items]
Net revenues, Total	$ 5,801	$ 3,434	$ 15,446	$ 9,834

Segment Information and Infor43

Segment Information and Information about Geographic Areas - Property and Equipment, Net By Geographic Area (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 8,009	$ 7,532
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	6,946	6,633
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 1,063	$ 899